Mark Lazarus, who will lead the new unit, wrote in a memo to staffers, “Versant represents more than a name – it speaks to our adaptability and embraces the opportunity to shape a new, modern media company. There were many considerations for a suitable name. Our internal team of incredibly skilled and experienced brand marketers, designers and media tacticians took into account our overarching goal to influence culture, connect communities and signify a unified direction forward.”
Since the spinoff of MSNBC, CNBC and other cable networks was announced last year, the entity has gone by SpinCo.
Lazarus added, “We would be foolish to expect everyone to love the name of our new company immediately. There were certainly some others that we could have gotten behind, but after sitting with Versant for a couple of weeks now, I believe it will suit us well, evoke a sense of energy, and underscore our role in driving progress.”
Lazarus also said that the company headquarters would be in Manhattan.
Other networks included in the spinoff, expected to be completed later this year, are USA Network, Oxygen, E!, SYFY, and Golf Channel.
With NBC News no longer a sister network, MSNBC has been building up a news division. Yet to be announced is how the network plans to approach streaming. MSNBC shows had appeared on Peacock, but that platform will remain in the Comcast fold.
The choice of a media company name invites quick reaction and judgment, especially in an era when so many entities choose uncommon words, like Axios and Semafor, or a partial anagram, like Tegna, from its spinoff from Gannett. Some names have been outright duds, most prominently Tronc, the name given to Tribune Publishing in 2016 only to be dropped two years later.
According an audio announcement from brand marketers Lisa Fleming and Mike DeRienzo, thousands of names were considered, but only 43 passed “preliminary knockout.” Of that, 25 were cleared domestically. That was narrowed to 12 finalists that were presented to the leadership team.
The field of options continued to narrow, with a top three selected to go through international clearance. All three did.
They then went into “design exploration,” including logos. “After months of presentations and conversations, a clear winner rose to the top, and that was Versant,” DeRienzo said. Versant actually is a real word, meaning the slope of a mountain. “It says strength, forward movement,” he said.
By contrast, MSNBC will retain its name, even though NBC will no longer be part of the network. The “MS” stood for Microsoft, as the network initially was joint venture with Microsoft. The tech giant sold its stake in 2005.
