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California loves Dungeness crab. But concerns over whale safety have put the industry in peril

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California loves Dungeness crab. But concerns over whale safety have put the industry in peril

It was a calm January morning, the waters off Bodega Bay unusually smooth, but crab fisherman Dick Ogg couldn’t shake a grim feeling that the day wouldn’t go his way.

The Dungeness crab season had opened just a few weeks earlier — two months behind schedule — and was off to a slow start. “We’re working very hard to basically get nothing,” said Ogg.

The anemic hauls so early in the season mark the latest setback for California’s commercial Dungeness crab fishery, a roughly $45-million-a-year industry that delivers one of the state’s most iconic culinary delights.

Dick Ogg navigates his boat out of Bodega Bay in the predawn hours of a January morning, setting off for a 16-hour day of crab fishing.

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The industry’s future has been complicated by another celebrated sea creature: Each year, a number of humpback whales migrating through California’s waters to and from tropical breeding grounds get entangled in commercial crab fishing gear, encounters that often end in mutilation or death. State regulators are intent on lowering the chances of whales coming into contact with the gear.

There’s reason to be concerned.

Since 1970, when the federal government listed humpback whales as “endangered” after they were hunted to near extinction, the population has made a fragile comeback. Whales along the West Coast have recovered at an estimated annual rate of 8.2% since the 1980s, according to the National Oceanic and Atmospheric Administration, with more than 4,500 humpback whales now feeding off California’s coast.

The state Department of Fish and Wildlife has imposed sharp restrictions on the crab industry over the last decade in an effort to protect that progress, as well as to safeguard populations of blue whales, gray whales and the critically endangered leatherback sea turtle.

The annual crab season — which historically ran from late fall to midsummer — has been repeatedly truncated, due to both whale safety concerns and elevated levels of domoic acid, a toxin that builds up in shellfish. This year’s season opened after New Year’s and is likely to end in spring. The shortened timeline gives whales more time to migrate without risk of entanglement, but has cut California’s commercial crabbers out of the lucrative Thanksgiving, Christmas and New Year’s markets, devastating the fleet’s income expectations.

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A boat captain seated at the helm gives instructions to his crew.

Fisherman Dick Ogg, right, gives instructions to crew members Bradlee Titus, left, and Axel Bjorklund during a disappointing day of crab fishing.

In addition, most of the California crab fleet is under a mandatory order this year to use 50% less gear, meaning the fleet has fewer weeks to fish and can use just a fraction of its traps. And the weeks that are open to crabbing pose some of the most dangerous wind and weather conditions of the season.

“We’ve had times we shouldn’t be out,” said Ogg, 71. “We have to go. We don’t have a choice.”

After making what feels like one concession after the next, he wonders whether the fishery can survive any more changes.

And now the crabs aren’t biting.

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A boat captain climbs a ladder to the flybridge.

“We’ve adjusted almost as much as we possibly can,” Ogg says of the tighter whale safety regulations California has imposed on the crab fishery.

Early on a Thursday in late January, Ogg readied his 54-foot fiberglass boat, the Karen Jeanne, for a 16-hour day of hauling 200 crab pots. It was barely 4:30 a.m. at the Spud Point Marina, and Ogg’s crew, Bradlee Titus, 34, and Axel Bjorklund, 22, both multi-generational fishermen, prepared the deck by washing equipment, filling water buckets and packing jars with bait — a stinky, oily mashup of mackerel and squid. At the helm, Ogg tracked water currents and the weather forecast as he moved the boat out of Bodega Bay, past Point Reyes toward the Farallon Islands and San Francisco skyline.

Ogg was adopted from Japan, and has lived most of his life near Bodega Bay, a fishing town on the Sonoma County coast. He didn’t start out in commercial fishing, but eased into it about 25 years ago, after more than three decades working as an electrician at Sonoma State University.

He is lean and fit from years of diving and martial arts training. As a captain, he is regimented, but also gentle with his crew. He pays them 17% off the top after every trip, no matter how much, or little, crab is brought in. He’ll make a batch of pizza bread before fishing trips and keeps the boat stocked with snacks. On overnight trips, he gives Titus and Bjorklund the cabin below deck, while he sleeps on the floor of the wheelhouse with his three rescue dogs.

Two crew members on a fishing boat pull a crab pot from the Pacific Ocean.

This year’s California crabbing season, already truncated, has gotten off to an anemic start.

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He bought the Karen Jeanne about 11 years ago. He extended the vessel by 8 feet, adding a new motor and a big tank for the bundles of crab and massive salmon he dreamed of catching — but never eating. Ogg has been vegetarian for more than 40 years.

“For me, it’s about providing that resource,” Ogg said. “The public can’t get out here.”

Crab pots sit on the ocean floor, with more than 200 feet of rope attaching them to buoys at the surface. A bait jar inside the pot tempts the crab into a one-way entrance.

Titus and Bjorklund move in a choreographed dance to haul in the crabs using a process that takes about one minute and 30 seconds per pot: Grab the buoy and attach the rope to a crab hauler; raise the 100-pound pot out of the water; empty the crabs into a holding tank; replace the old bait with a fresh jar; toss the female and small crabs back overboard; and throw the larger males into the tank. Then they push the empty pot back into the water and begin the process again.

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Crew members sort crabs in a net.

2 A crew member sizes crab on a fishing boat.

3 Two men place boxes of frozen bait into a freezer on a fishing boat.

1. Titus, left, and Bjorklund sort Dungeness crabs, throwing back female and undersized crabs. 2. Bjorklund sizes crabs aboard the Karen Jeanne. 3. Ogg, right, and Titus place boxes of bait into a freezer.

The cycle repeats itself hour after hour, a meditation in back-breaking labor, as Ogg navigates through his lines of crab pots. On this day, each pot would yield eight to 12 crabs, a small harvest compared with the dozens of crabs the pots are built to hold. After throwing out the “shorts” and females, they’re lucky to keep two. The team stays focused, but it’s easy to see the disappointment.

“We’re going backwards,” Bjorklund yelled at one point.

Ogg, at the wheel, shook his head. “On this particular trip, I won’t make any money,” he said. The bait alone tallies around $1,200 each trip, on top of fuel costs and upkeep. The one bright spot was that the fleet had negotiated a relatively high price of $7.25 per pound with buyers, meaning even for a low-volume trip he might break even.

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Ogg has come to accept the shortened season. He’s cut the number of pots he puts in the water in compliance with state rules. He’s bracing to spend up to $20,000 on fishing lines next season in preparation for new state rules requiring the fishery to use a specific color of rope, in an effort to better identify what gear is entangling the whales.

“We’ve adjusted almost as much as we possibly can,” he said.

He serves on a dozen state and regional committees focused on the Dungeness crab industry. This year, he hopes to be added to a new federal task force set up to find solutions to whale entanglement. Crabbers hope the federal government will relax some regulations, but there’s a chance the task force just adds more.

Seagulls gather off the aft of a fishing boat.

Seagulls gather off the aft of the fishing boat Karen Jeanne.

Ogg emphasized his respect for whales. “I don’t want to have any problems with these” whales, he said. “I love these animals.”

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But he likened fishing to driving a car. You can put on your seat belt and drive slower, but there will still be accidents.

“They want zero entanglements. And zero is not an achievable number.”

There were 34 whale entanglements, including 29 humpbacks, recorded off the Pacific Coast in 2024, a six-year high, according to preliminary data from the National Oceanic and Atmospheric Administration.

Twenty-seven whales were reported entangled in 2023 and 30 whales in 2022, which environmental groups say is probably an undercount. It’s an improvement from years past; in 2016, 71 whale entanglements were reported off the coasts of Washington, Oregon and California, prompting conservationists to file a lawsuit against California. The settlement agreement led to many of the current regulations.

The humpback whales are divided into subgroups: one that travels to Mexico for the winter, listed as “threatened” under the federal Endangered Species Act; and a smaller group that breeds off the coast of Central America, which is listed in the more urgent “endangered” category. Because it’s nearly impossible to distinguish one group from the other, any entanglement is treated as a deadly risk to the endangered population.

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“Sometimes they’re able to free themselves. Often they’re not,” said Ryan Bartling, senior environmental scientist at the state Department of Fish and Wildlife.

A boat captain scans the waters while navigating among his crab pots.

“They want zero entanglements,” Ogg says of the push for tighter whale protections. “And zero is not an achievable number.”

Here’s where things get complicated. Wildlife groups, the state and fishery leaders disagree on what number of entanglements is “acceptable,” meaning what would constitute a “negligible impact” on the whale population. Federal and state guidance isn’t always clear, often leaving conservationists and crews confused.

Either way, commercial Dungeness crab gear has contributed to an annual average of 5.2 humpback entanglements since 2014, according to national and state data, more than double what federal rules allow.

Nancy Black, a marine biologist and owner of Monterey Bay Whale Watch, is in the camp that wants to see the number of entanglements cut to zero. “I don’t think any of them should be entangled at all,” she said.

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Black has seen a steady increase in the humpback whale population in recent decades, and wants to see even greater efforts to reduce run-ins with the crab fishery. She partners with other scientists to report whale entanglements, so rescue teams can be dispatched to save the animals.

“It’s really distressing,” she said. “Especially if you see one that has had it on for a long time, or it’s cutting through its body or it’s wrapped around its mouth.”

1 A crew member throws a crab buoy off a fishing boat.

2 A man in yellow coveralls stacks crab pots on a boat.

1. Bjorklund throws crab buoys into the sea. 2. Bjorklund stacks crab pots.

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Sarah Bates, who commercially fishes salmon, also wants to protect the whales. Commercial fishers are invested in the ocean ecosystem, she said. But there’s a growing concern that the state has prioritized whale safety at the expense of the fishery, even as the whale population increases.

California’s fishery was already struggling from the cancellation of the 2023 and 2024 salmon seasons; salmon counts had plummeted, a crisis attributed to drought and the state’s overtaxed river systems, and the hope was that a reprieve would help their numbers rebound. Now, given restrictions on the crab fleet combined with a low-volume season, “we’re belly-up,” Bates said.

Dungeness crabs wriggle in a holding tank.

“We’re putting our California fishermen out of business, while we sit and eat Scottish salmon,” says Lisa Damrosch, executive director of the Pacific Coast Federation of Fishermen’s Assns.

Lisa Damrosch, executive director of the Pacific Coast Federation of Fishermen’s Assns., noted that the industry is inherently unpredictable.

“The weather, a wild, natural product that you’re not planting or watering or controlling,” said Damrosch, whose family has fished out of Half Moon Bay for over 100 years. “Now we’re adding whales, which are also unpredictable and not something we can control as human beings.”

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As the California fishery becomes increasingly regulated, she said, it creates a market of opportunity for someone else.

“We’re putting our California fishermen out of business, while we sit and eat Scottish salmon,” Damrosch said, “and look out at the oceans and feel so good about ourselves.”

In a few weeks, whales could return to California waters, potentially bringing the crab season to a halt.

But Stephen Melz will still be fishing.

Melz lives in Half Moon Bay, and has been commercially fishing for nearly four decades. For the last two years, he’s participated in a pilot program testing pop-up crab gear.

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While traditional crab gear uses vertical lines to connect the pots to buoys at the surface, pop-up gear keeps the rope and a flotation device on the ocean floor with the trap. To retrieve the pot, Melz uses an app on his phone that sends an acoustic signal to the trap that releases the rope and buoy, sending them back to the surface.

“It sounded like science fiction to me, but this stuff actually works,” said Geoff Shester, California campaign director and senior scientist at Oceana.

Shester promotes pop-up gear as an alternative to vertical ropes, a shift he believes could protect whales and still establish some stability for crab fishers. The pop-up gear helped bring in 229,000 pounds of crab during the 2024 spring fishery, according to Oceana, “worth $1.5 million, with high reliability and minimal gear loss.”

Many fishermen, including Ogg, remain skeptical. They’ve invested tens of thousands of dollars in their traditional equipment, and don’t trust the pop-up gear success rates touted by environmental organizations.

Melz agrees that traditional gear is far easier to use at the start of the season, when fleets are navigating choppy waters. But in spring, when conditions are more favorable, the pop-up gear is a great option, he said.

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“We’d all like to be able to use our traditional gear, absolutely,” he said. “But if we come to a point where the powers that be decide that the whale presence is too much to use traditional gear, and my option is either to use pop-up gear that works excellently, or to be sitting on the dock not working, you can see what answer I’m going to take.”

The morning after Ogg’s long day of pulling pots, he takes the Karen Jeanne to the Tides Wharf, a seafood wholesaler in Bodega Bay, to offload his crabs.

“This might be the smallest load I’ve ever brought in,” Ogg said. “If we have 1,000 pounds, I’d just go nuts.”

“I’m guessing we have 750,” Titus responded.

Titus and Bjorklund shoveled mounds of ice over the crabs, putting them in a hibernating state to make it easier to transfer them into containers to be weighed.

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A captain and crew member stand on the deck of a crabbing boat under dark skies.

Amid heavier crabbing regulations, Ogg, left, wonders whether there is a future for the young fishermen who serve as his crew members.

As they worked, Ogg flipped through his iPad, pulling up photos from prior seasons. At the start of the 2017 season, the boat’s tank nearly overflowed with crab, netting about $30,000 from one day on the water, even at a wholesale price significantly lower than $7.25 per pound.

He’d like to keep fishing for another 10 years. But it’s getting harder. “I’m still physically capable, but my body is not happy,” he said. And at this rate, he wonders, is there any future left for young fishermen like Titus and Bjorklund?

“It’s going to look completely different,” he said. “There’s going to be regulations that control us. So how do we adapt to make that work?”

The crabs were lifted off the boat and weighed: 855 pounds of fresh crab meat to be transformed into sauteed crab cakes, a Louie salad or thrown into some cioppino.

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Gross earnings: $6,200. After paying the crew and the costs of fuel and bait, Ogg would net about $2,000.

Worse than usual. Better than expected. The best part was he didn’t see any whales.

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Commentary: A leading roboticist punctures the hype about self-driving cars, AI chatbots and humanoid robots

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Commentary: A leading roboticist punctures the hype about self-driving cars, AI chatbots and humanoid robots

It may come to your attention that we are inundated with technological hype. Self-driving cars, human-like robots and AI chatbots all have been the subject of sometimes outlandishly exaggerated predictions and promises.

So we should be thankful for Rodney Brooks, an Australian-born technologist who has made it one of his missions in life to deflate the hyperbole about these and other supposedly world-changing technologies offered by promoters, marketers and true believers.

As I’ve written before, Brooks is nothing like a Luddite. Quite the contrary: He was a co-founder of IRobot, the maker of the Roomba robotic vacuum cleaner, though he stepped down as the company’s chief technology officer in 2008 and left its board in 2011. He’s a co-founder and chief technology officer of RobustAI, which makes robots for factories and warehouses, and former director of computer science and artificial intelligence labs at Massachusetts Institute of Technology.

Having ideas is easy. Turning them into reality is hard. Turning them into being deployed at scale is even harder.

— Rodney Brooks

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In 2018, Brooks published a post of dated predictions about the course of major technologies and promised to revisit them annually for 32 years, when he would be 95. He focused on technologies that were then — and still are — the cynosures of public discussion, including self-driving cars, human space travel, AI bots and humanoid robots.

“Having ideas is easy,” he wrote in that introductory post. “Turning them into reality is hard. Turning them into being deployed at scale is even harder.”

Brooks slotted his predictions into three pigeonholes: NIML, for “not in my lifetime,” NET, for “no earlier than” some specified date, and “by some [specified] date.”

On Jan. 1 he published his eighth annual predictions scorecard. He found that over the years “my predictions held up pretty well, though overall I was a little too optimistic.”

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For example in 2018 he predicted “a robot that can provide physical assistance to the elderly over multiple tasks [e.g., getting into and out of bed, washing, using the toilet, etc.]” wouldn’t appear earlier than 2028; as of New Year’s Day, he writes, “no general purpose solution is in sight.”

The first “permanent” human colony on Mars would come no earlier than 2036, he wrote then, which he now calls “way too optimistic.” He now envisions a human landing on Mars no earlier than 2040, and the settlement no earlier than 2050.

A robot that seems “as intelligent, as attentive, and as faithful, as a dog” — no earlier than 2048, he conjectured in 2018. “This is so much harder than most people imagine it to be,” he writes now. “Many think we are already there; I say we are not at all there.” His verdict on a robot that has “any real idea about its own existence, or the existence of humans in the way that a 6-year-old understands humans” — “Not in my lifetime.”

Brooks points out that one way high-tech promoters finesse their exaggerated promises is through subtle redefinition. That has been the case with “self-driving cars,” he writes. Originally the term referred to “any sort of car that could operate without a driver on board, and without a remote driver offering control inputs … where no person needed to drive, but simply communicated to the car where it should take them.”

Waymo, the largest purveyor of self-driven transport, says on its website that its robotaxis are “the embodiment of fully autonomous technology that is always in control from pickup to destination.” Passengers “can sit in the back seat, relax, and enjoy the ride with the Waymo Driver getting them to their destination safely.”

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Brooks challenges this claim. One hole in the fabric of full autonomy, he observes, became clear Dec. 20, when a power blackout blanketing San Francisco stranded much of Waymo’s robotaxi fleet on the streets. Waymos, which can read traffic lights, clogged intersections because traffic lights went dark.

The company later acknowledged its vehicles occasionally “require a confirmation check” from humans when they encounter blacked-out traffic signals or other confounding situations. The Dec. 20 blackout, Waymo said, “created a concentrated spike in these requests,” resulting in “a backlog that, in some cases, led to response delays contributing to congestion on already-overwhelmed streets.”

It’s also known that Waymo pays humans to physically deal with vehicles immobilized by — for example — a passenger’s failure to fully close a car door when exiting. They can be summoned via the third-party app Honk, which chiefly is used by tow truck operators to find stranded customers.

“Current generation Waymos need a lot of human help to operate as they do, from people in the remote operations center to intervene and provide human advice for when something goes wrong, to Honk gig workers scampering around the city,” Brooks observes.

Waymo told me its claim of “fully autonomous” operation is based on the fact that the onboard technology is always in control of its vehicles. In confusing situations the car will call on Waymo’s “fleet response” team of humans, asking them to choose which of several optional paths is the best one. “Control of the vehicle is always with the Waymo Driver” — that is, the onboard technology, spokesman Mark Lewis told me. “A human cannot tele-operate a Waymo vehicle.”

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As a pioneering robot designer, Brooks is particularly skeptical about the tech industry’s fascination with humanoid robots. He writes from experience: In 1998 he was building humanoid robots with his graduate students at MIT. Back then he asserted that people would be naturally comfortable with “robots with humanoid form that act like humans; the interface is hardwired in our brains,” and that “humans and robots can cooperate on tasks in close quarters in ways heretofore imaginable only in science fiction.”

Since then it has become clear that general-purpose robots that look and act like humans are chimerical. In fact in many contexts they’re dangerous. Among the unsolved problems in robot design is that no one has created a robot with “human-like dexterity,” he writes. Robotics companies promoting their designs haven’t shown that their proposed products have “multi-fingered dexterity where humans can and do grasp things that are unseen, and grasp and simultaneously manipulate multiple small objects with one hand.”

Two-legged robots have a tendency to fall over and “need human intervention to get back up,” like tortoises fallen on their backs. Because they’re heavy and unstable, they are “currently unsafe for humans to be close to when they are walking.”

(Brooks doesn’t mention this, but even in the 1960s the creators of “The Jetsons” understood that domestic robots wouldn’t rely on legs — their robot maid, Rosie, tooled around their household on wheels, a perception that came as second nature to animators 60 years ago but seems to have been forgotten by today’s engineers.)

As Brooks observes, “even children aged 3 or 4 can navigate around cluttered houses without damaging them. … By age 4 they can open doors with door handles and mechanisms they have never seen before, and safely close those doors behind them. They can do this when they enter a particular house for the first time. They can wander around and up and down and find their way.

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“But wait, you say, ‘I’ve seen them dance and somersault, and even bounce off walls.’ Yes, you have seen humanoid robot theater. “

Brooks’ experience with artificial intelligence gives him important insights into the shortcomings of today’s crop of large language models — that’s the technology underlying contemporary chatbots — what they can and can’t do, and why.

“The underlying mechanism for Large Language Models does not answer questions directly,” he writes. “Instead, it gives something that sounds like an answer to the question. That is very different from saying something that is accurate. What they have learned is not facts about the world but instead a probability distribution of what word is most likely to come next given the question and the words so far produced in response. Thus the results of using them, uncaged, is lots and lots of confabulations that sound like real things, whether they are or not.”

The solution is not to “train” LLM bots with more and more data, in the hope that eventually they will have databases large enough to make their fabrications unnecessary. Brooks thinks this is the wrong approach. The better option is to purpose-build LLMs to fulfill specific needs in specific fields. Bots specialized for software coding, for instance, or hardware design.

“We need guardrails around LLMs to make them useful, and that is where there will be lot of action over the next 10 years,” he writes. “They cannot be simply released into the wild as they come straight from training. … More training doesn’t make things better necessarily. Boxing things in does.”

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Brooks’ all-encompassing theme is that we tend to overestimate what new technologies can do and underestimate how long it takes for any new technology to scale up to usefulness. The hardest problems are almost always the last ones to be solved; people tend to think that new technologies will continue to develop at the speed that they did in their earliest stages.

That’s why the march to full self-driving cars has stalled. It’s one thing to equip cars with lane-change warnings or cruise control that can adjust to the presence of a slower car in front; the road to Level 5 autonomy as defined by the Society of Automotive Engineers — in which the vehicle can drive itself in all conditions without a human ever required to take the wheel — may be decades away at least. No Level 5 vehicles are in general use today.

Believing the claims of technology promoters that one or another nirvana is just around the corner is a mug’s game. “It always takes longer than you think,” Brooks wrote in his original prediction post. “It just does.”

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Versant launches, Comcast spins off E!, CNBC and MS NOW

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Versant launches, Comcast spins off E!, CNBC and MS NOW

Comcast has officially spun off its cable channels, including CNBC and MS NOW, into a separate company, Versant Media Group.

The transaction was completed late Friday. On Monday, Versant took a major tumble in its stock market debut — providing a key test of investors’ willingness to hold on to legacy cable channels.

The initial outlook wasn’t pretty, providing awkward moments for CNBC anchors reporting the story.

Versant fell 13% to $40.57 a share on its inaugural trading day. The stock opened Monday on Nasdaq at $45.17 per share.

Comcast opted to cast off the still-profitable cable channels, except for the perennially popular Bravo, as Wall Street has soured on the business, which has been contracting amid a consumer shift to streaming.

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Versant’s market performance will be closely watched as Warner Bros. Discovery attempts to separate its cable channels, including CNN, TBS and Food Network, from Warner Bros. studios and HBO later this year. Warner Chief Executive David Zaslav’s plan, which is scheduled to take place in the summer, is being contested by the Ellison family’s Paramount, which has launched a hostile bid for all of Warner Bros. Discovery.

Warner Bros. Discovery has agreed to sell itself to Netflix in an $82.7-billion deal.

The market’s distaste for cable channels has been playing out in recent years. Paramount found itself on the auction block two years ago, in part because of the weight of its struggling cable channels, including Nickelodeon, Comedy Central and MTV.

Management of the New York-based Versant, including longtime NBCUniversal sports and television executive Mark Lazarus, has been bullish on the company’s balance sheet and its prospects for growth. Versant also includes USA Network, Golf Channel, Oxygen, E!, Syfy, Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine.

“As a standalone company, we enter the market with the scale, strategy and leadership to grow and evolve our business model,” Lazarus, who is Versant’s chief executive, said Monday in a statement.

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Through the spin-off, Comcast shareholders received one share of Versant Class A common stock or Versant Class B common stock for every 25 shares of Comcast Class A common stock or Comcast Class B common stock, respectively. The Versant shares were distributed after the close of Comcast trading Friday.

Comcast gained about 3% on Monday, trading around $28.50.

Comcast Chairman Brian Roberts holds 33% of Versant’s controlling shares.

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Ties between California and Venezuela go back more than a century with Chevron

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Ties between California and Venezuela go back more than a century with Chevron

As a stunned world processes the U.S. government’s sudden intervention in Venezuela — debating its legality, guessing who the ultimate winners and losers will be — a company founded in California with deep ties to the Golden State could be among the prime beneficiaries.

Venezuela has the largest proven oil reserves on the planet. Chevron, the international petroleum conglomerate with a massive refinery in El Segundo and headquartered, until recently, in San Ramon, is the only foreign oil company that has continued operating there through decades of revolution.

Other major oil companies, including ConocoPhillips and Exxon Mobil, pulled out of Venezuela in 2007 when then-President Hugo Chávez required them to surrender majority ownership of their operations to the country’s state-controlled oil company, PDVSA.

But Chevron remained, playing the “long game,” according to industry analysts, hoping to someday resume reaping big profits from the investments the company started making there almost a century ago.

Looks like that bet might finally pay off.

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In his news conference Saturday, after U.S. Special Forces snatched Venezuelan President Nicolás Maduro and his wife in Caracas and extradited them to face drug-trafficking charges in New York, President Trump said the U.S. would “run” Venezuela and open more of its massive oil reserves to American corporations.

“We’re going to have our very large U.S. oil companies, the biggest anywhere in the world, go in, spend billions of dollars, fix the badly broken infrastructure, the oil infrastructure, and start making money for the country,” Trump said during a news conference Saturday.

While oil industry analysts temper expectations by warning it could take years to start extracting significant profits given Venezuela’s long-neglected, dilapidated infrastructure, and everyday Venezuelans worry about the proceeds flowing out of the country and into the pockets of U.S. investors, there’s one group who could be forgiven for jumping with unreserved joy: Chevron insiders who championed the decision to remain in Venezuela all these years.

But the company’s official response to the stunning turn of events has been poker-faced.

“Chevron remains focused on the safety and well-being of our employees, as well as the integrity of our assets,” spokesman Bill Turenne emailed The Times on Sunday, the same statement the company sent to news outlets all weekend. “We continue to operate in full compliance with all relevant laws and regulations.”

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Turenne did not respond to questions about the possible financial rewards for the company stemming from this weekend’s U.S. military action.

Chevron, which is a direct descendant of a small oil company founded in Southern California in the 1870s, has grown into a $300-billion global corporation. It was headquartered in San Ramon, just outside of San Francisco, until executives announced in August 2024 that they were fleeing high-cost California for Houston.

Texas’ relatively low taxes and light regulation have been a beacon for many California companies, and most of Chevron’s competitors are based there.

Chevron began exploring in Venezuela in the early 1920s, according to the company’s website, and ramped up operations after discovering the massive Boscan oil field in the 1940s. Over the decades, it grew into Venezuela’s largest foreign investor.

The company held on over the decades as Venezuela’s government moved steadily to the left; it began to nationalize the oil industry by creating a state-owned petroleum company in 1976, and then demanded majority ownership of foreign oil assets in 2007, under then-President Hugo Chávez.

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Venezuela has the world’s largest proven crude oil reserves — meaning they’re economical to tap — about 303 billion barrels, according to the U.S. Energy Information Administration.

But even with those massive reserves, Venezuela has been producing less than 1% of the world’s crude oil supply. Production has steadily declined from the 3.5 million barrels per day pumped in 1999 to just over 1 million barrels per day now.

Currently, Chevron’s operations in Venezuela employ about 3,000 people and produce between 250,000 and 300,000 barrels of oil per day, according to published reports.

That’s less than 10% of the roughly 3 million barrels the company produces from holdings scattered across the globe, from the Gulf of Mexico to Kazakhstan and Australia.

But some analysts are optimistic that Venezuela could double or triple its current output relatively quickly — which could lead to a windfall for Chevron.

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The Associated Press contributed to this report.

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