Versant stock price sinks on Nasdaq trading debut as Comcast spinoff tests investor appetite for legacy cable TV

Is cable television truly dead? The markets are about to test the hypothesis.

Shares of Versant Media Group began trading on the Nasdaq Monday under the ticker symbol VSNT, effectively completing Versant’s spinoff from parent company Comcast Corporation.

Versant comprises a bundle of cable television networks and similar digital businesses, with notable properties including MS NOW (formerly MSNBC), CNBC, USA Network, Golf Channel, Oxygen, E!, and SYFY.

It also includes online platforms such as Fandango...