Business · Companies · 2 hrs ago
Versant CEO Says Buying Skydance Cable Networks Is Unlikely Soon
Versant CEO Mark Lazarus said the company is unlikely to buy more cable networks soon.
Versant, spun off from Comcast and NBCUniversal earlier this year, owns networks including MS NOW, CNBC and USA, as well as digital businesses such as Fandango and GolfNow.
Lazarus said buying more large networks would not solve cable TV’s long-term decline.
His comments come after Paramount and Warner Bros.
Discovery merged to form Skydance, which has more than 50 cable networks; speculation has surrounded whether it might sell some.
Skydance has said it plans to keep its networks and use their cash flow to pay down debt and invest elsewhere.
Versant is aiming to grow revenue from digital and adjacent businesses, with digital currently making up less than a quarter of its revenue.
The company may decide within about a year whether to renew its advertising-sales deal with NBCUniversal.
Versant CEO Mark Lazarus said buying large cable networks is probably not in the company’s short-term plans.
He said adding cable assets would not address the industry’s secular decline.
Versant may consider creating another business around pay television, but is focused on diversifying revenue through adjacent businesses.
His comments came as speculation continued that Skydance might sell some of its more than 50 cable networks.
Lazarus said Versant’s digital business currently accounts for less than 25% of revenue, with a goal of making digital its primary revenue source in three to five years.
- Who
- Mark Lazarus, CEO of Versant Media.
- What
- He said buying large cable networks is probably not in Versant’s short-term future.
- When
- Tuesday, October 20, 2026.
- Where
- The Axios Media Trends Live conference in New York.
- Why
- Lazarus said buying more cable assets would not change the industry’s secular decline or necessarily improve Versant’s business.
This story does not have two clearly opposing sides.
Versant was spun off by Comcast and NBCUniversal.
Paramount and Warner Bros. Discovery merged to form Skydance.
Lazarus spoke at the Axios Media Trends Live conference.
- Versant CEO
- Mark Lazarus
- Digital share of Versant revenue
- Less than 25%
- Digital revenue goal
- Primary source in three to five years
- Skydance cable networks
- More than 50
- Versant stock price
- Down 29% since its January debut
2 sources
What people are saying
Buying more cable assets on a large scale would prolong our life but not necessarily make our life better because we would still have the secular decline
Might there be some interest in another vertical that we could create around a pay television business? Yes, but just buying big networks or a bunch of networks that don’t necessarily change our trajectory is probably not in our short-term future.
Our cash flow is really strong, and I think we will find our path, whether it’s on our own transformation or alongside someone else, but no, that wouldn’t be the plan to necessarily go back to them