Versant Media Group, Inc. (NASDAQ:VSNT) shares climbed more than 4% on Tuesday after the newly independent media company unveiled its first quarterly dividend and authorized a $1 billion share repurchase program, despite reporting lower full-year revenue.
For 2025, Versant posted revenue of $6.69 billion, down 5.3% from $7.06 billion in 2024. Net income attributable to the company fell 31.8% year over year to $930 million, compared with $1.36 billion in the prior year.
Adjusted EBITDA declined 14.5% to $2.43 billion. On a standalone basis—reflecting the costs associated with operating independently from former parent Comcast—Adjusted EBITDA decreased 9.1% to $2.18 billion.
Investors focused on the company’s capital return strategy. The board declared a quarterly cash dividend of $0.375 per share, equivalent to an annualized payout of $1.50 per share. The dividend will be paid on April 22, 2026, to shareholders of record as of April 1, 2026.
In addition, Versant authorized the repurchase of up to $1 billion of its outstanding Class A common stock.
“Versant enters this next chapter as an independent, well-positioned media and entertainment company with strong momentum and clear strategic focus,” said Mark Lazarus, Chief Executive Officer. “In 2025, we strengthened our leadership in premium programming, expanded our audience, grew our platforms businesses, and successfully established ourselves as a standalone company.”
Segment performance was mixed. Linear distribution revenue declined 5.4% to $4.09 billion, while advertising revenue dropped 8.9% to $1.58 billion. Platforms revenue rose 3.9% to $826 million, partially offsetting weakness elsewhere. Content licensing and other revenue fell 8.5% to $193 million.
The announcement marks Versant’s first major shareholder return initiative since becoming an independent public company.