Opening Bell: January 5, 2026

Watch on YouTube ↗  |  January 05, 2026 at 15:03  |  4:15  |  CNBC
Speakers
Mark Lazor — CEO, Versant
David Faber — Anchor, Squawk on the Street / Media Analyst
Jim Cramer — Host, Mad Money

Summary

CNBC's Opening Bell segment on January 5, 2026 focused on the debut of Versant as an independent public company spun off from Comcast. The discussion covered the spinoff mechanics, index fund selling pressure, and Versant's valuation at below 5x EBITDA, with potential for re-rating and acquisitions given its underlevered balance sheet. However, flat EBITDA growth remains a challenge. Speakers also noted the strategic shift away from pay TV dependence.

  • Versant begins trading as independent company after Comcast spinoff.
  • Comcast shareholders receive 1/25 Versant shares.
  • Versant trades below 5x EBITDA, with 5-6x seen as hopeful range.
  • Index fund selling may create initial pressure.
  • Versant is underlevered at ~1x, allowing potential acquisitions.
  • EBITDA growth is flat, posing a challenge.
  • Mark Lazarus highlights vertical scale and diversification beyond pay TV.
  • CNBC employees note new parent company structure.
Ideas
Mark Lazor CEO, Versant 0:12
Versant diversifies beyond pay TV.
Versant will use vertical scale to differentiate and diversify its business, reducing dependence on pay TV. Pay TV remains a big profitable part now but is not the end game, supporting the company's long-term repositioning.
Versant LOW
Jim Cramer Host, Mad Money 1:09
Index selling creates Versant entry opportunity.
Index funds that own Comcast will receive Versant shares in the spinoff but are likely to sell them because Versant is not in the S&P 500, creating initial selling pressure. Mario Gabelli has said he wants to be a buyer on that pressure, suggesting the forced selling may create a buying opportunity.
Versant MED
David Faber Anchor, Squawk on the Street / Media Analyst 1:23
Versant cheap, underlevered, but EBITDA stagnant.
Versant is trading on a when-issued basis below 5x EBITDA, around 4.6-4.7x, versus a hopeful 5-6x range, suggesting potential upside if it re-rates. It is underlevered at about 1x EBITDA, which is attractive versus peers and allows for potential acquisitions. However, EBITDA is not growing, so management must find new business areas to flatten or reverse the decline.
Versant MED
Up Next
2:45
Cramer’s Mad Dash: JPMorgan Chase
CNBC · Jan 05
3:59
Venezuela's Maduro Due in NYC Court Today
Bloomberg Markets · Jan 05
19:45
Watch CNBC’s full interview with U.S. Attorney for the Southern District of New York Jay Clayton
CNBC · Jan 05
5:01
Commodities will occupy a greater place in asset allocation, says Strategas' Jason Trennert
CNBC · Jan 05
7:37
Versant CEO Mark Lazarus on growth strategy: Vertical is the way to go
CNBC · Jan 05

This CNBC video, published January 05, 2026, features Mark Lazor, Jim Cramer, David Faber discussing Versant. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Lazor, Jim Cramer, David Faber  · Tickers: Versant