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Brian Steinberg
Senior TV Editor
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Heidi Gutman/NBCUniversal Versant Media said profit in its first fiscal quarter fell due to erosion at its TV operations and higher corporate costs tied to its recent spin-off from NBCUniversal, even as some of its direct-to-consumer businesses showed strength and buoyed its efforts to diversify revenue beyond traditional media assets,
The New York owner of MS NOW, CNBC and other cable businesses said net income fell $81 million, to $286 million, or $1.99 per share, compared with $367 million, or $2.55 a share in the year-earlier period. The company cited lower revenue, higher public company costs and interest expense following its separation from NBCU parent Comcast earlier this year.
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