Simpson Thacher represented the Joint Lead Arrangers, Joint Bookrunners and Initial Purchasers in connection with the financing of Versant Media Group, Inc.’s (“Versant”) spin-off from Comcast Corporation (“Comcast”). The financing consisted of a $1 billion term loan A facility and a $750 million revolving credit facility agented by JPMorgan, a $1 billion syndicated term loan B facility agented by Morgan Stanley and $1 billion of 7.250% Senior Secured Notes due 2031. The proceeds of the loans and the notes were used by Versant to finance the spin-off and pay a special dividend to Comcast.
Versant is an industry-leading media and entertainment business that operates several award-winning brands, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel, along with complementary digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass, and SportsEngine. Versant began trading on the Nasdaq under the ticker symbol “VSNT” on January 5, 2026.
The Simpson Thacher team included Justin Lungstrum, Stephanie Rotter, Dennis Durkin, Mark Marzziotti, Elizabeth Greene and Samrat Basani (Credit), David Azarkh, John O’Connell, Evan Zuckerman, Ben Pittenger, Minaal E. Wickremesinghe, Jessica Ryan and Chase Juszczak (Capital Markets); Erica Rozow, Jeanne Annarumma, George Gerstein and Pasco Struhs (Executive Compensation and Employee Benefits); Michael Mann (Tax); Courtney Welshimer, Corina Holland, Matthew Richardson and Sara Liu (Intellectual Property); and Jonathan Pall and Zachary Weiner (Collateral). Danielle DiGrazia, Colin Dennis and Senior Paralegal LaTrece Heard also provided valuable assistance.