Versant CEO Mark Lazarus rules out acquiring Skydance cable networks

Versant Media CEO Mark Lazarus stated that the company is unlikely to acquire large-scale cable assets from Skydance, even if they become available. Speaking at the Axios Media Trends Live conference, Lazarus noted that acquiring more cable networks would not change the company’s trajectory due to the ongoing secular decline in the medium.

Versant, a spinoff from Comcast and NBCUniversal, currently owns several cable networks including CNBC, USA, and MS NOW, alongside digital properties such as Fandango and Golf Now. The company aims to transition its primary revenue source to digital within the next three to five years, a segment that currently accounts for less than 25% of its total revenue.

Following the merger of Paramount and Warner Bros. Discovery into Skydance, speculation arose regarding the potential sale of Skydance’s 50-plus cable networks. While Skydance has indicated it intends to use cable cash flow to pay down debt rather than selling assets, Lazarus suggested Versant is more focused on diversifying into adjacent consumer-branded businesses.