breaking

Versant Reports First Quarter Decline as Pay TV Pressures Persist Post-Spinoff

Versant Media Group, now trading independently following its 2026 separation from Comcast, posted first-quarter revenues down 1% as traditional pay TV operations continued to deteriorate. Linear distribution revenue fell approximately 7% to undisclosed figures, driven by subscriber losses despite rate increases. This affected networks including CNBC, USA and the Golf Channel. Advertising revenue declined 5% to $368 million, marking improvement from a 12% drop in the prior-year period. Content licensing emerged as a bright spot, surging 113.5% to $121 million following major deals for "Keeping Up With the Kardashians" with Disney's Hulu. Platform revenue, encompassing Fandango and GolfNow, grew 9%. CEO Mark Lazarus emphasized the company's focus on building direct-to-consumer subscriber bases and diversifying revenue streams across business segments. Over 80% of revenue currently derives from declining pay TV operations.