Comcast Corporation's (CMCSA) Board of Directors Approves the Formation of Versant Media Group

​Comcast Corporation (NASDAQ:CMCSA) is one of the Cheap NASDAQ Stocks to Buy Now. On December 3, Comcast Corporation (NASDAQ:CMCSA) announced that its Board of Directors had approved the separation of cable television networks and complementary digital platforms from its remaining businesses. This will result in the creation of a new independent publicly traded company called Versant Media Group, Inc.

​Management noted that the separation will be achieved through pro rata distribution of 100% of the outstanding shares of Versant Class A common stock and Versant Class B common stock. Shareholders of Comcast A and Comcast B will receive one share of Versant for every 25 shares of Comcast. The distribution is expected on January 2, 2026.

​On the other hand, Wall Street has a conservative outlook on Comcast Corporation (NASDAQ:CMCSA) due to a more than 27% fall in share price year-to-date. On December 2, Kannan Venkateshwar from Barclays lowered the firm’s price target on the stock from $34 to $30 and maintained a Hold rating. Earlier, on December 1, Barton Crockett from Rosenblatt Securities also lowered the price target from $33 to $30, while keeping a Hold rating on the stock.

Analyst Crockett noted that Comcast Corporation (NASDAQ:CMCSA) faces a reset in its Connectivity & Platforms segment. The firm expects 2026 to be a reset year as the company absorbs lower ARPU due to its transition to simpler broadband packaging and free wireless. However, 2027 is anticipated to be the year of growth as the company would build upon its base to resume regular price hikes and roll out free wireless offers.

​Comcast Corporation (NASDAQ:CMCSA) is a major American media, tech, and telecom conglomerate.

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Disclosure: None. This article is originally published at Insider Monkey.