Versant CEO Says Buying Skydance Cable Networks Is ‘Probably Not in Our Short-Term Future’

Versant CEO Mark Lazarus has stated that the newly spun off company, Versant, is not interested in acquiring additional cable networks in the near future. Speaking at the Axios Media Trends Live conference on Tuesday, Lazarus explained that while there may be a desire to explore other verticals within the pay television industry, purchasing large networks could potentially prolong the company's existence without improving its overall performance due to the ongoing decline in the industry.

Versant currently manages a variety of cable networks, including MS NOW, CNBC, USA, and Syfy, as well as digital properties such as Fandango and Golf Now. Instead, Lazarus emphasized that the company is concentrating on diversifying its revenue streams through investments in "adjacent businesses that are incredibly powerful consumer branded networks as an amplifier and create bigger businesses," primarily centered around golf.

Earlier this month, Paramount and Warner Bros. Discovery merged to form Skydance, creating a major media conglomerate with over fifty cable networks. Despite their desire to avoid selling their networks, Skydance has indicated plans to repay debt and invest in other growth areas. When asked about the possibility of Versant rejoining Comcast's newly spun off NBCUniversal, Lazarus did not provide a clear answer, stating that their cash flow is robust and they will determine their path regardless of whether it involves their own transformation or partnering with another entity.