Acquisition will add scale and expand distribution, as part of VERSANT’s transformation strategy
New York, NY – December 4, 2025 – VERSANT, Comcast’s planned spin-off of select media brands and digital businesses, today announced that it has signed a definitive agreement to acquire Free TV Networks (FTN), a leading provider of national premium free over-the-air digital broadcast networks (“diginets”) and free ad-supported streaming TV (FAST) channels.
The transaction will broaden VERSANT’s entertainment portfolio, expand distribution across key audience segments, and establish a more diversified free-to-watch business within VERSANT’s footprint of networks and digital platforms. The over-the-air audience continues to increase, with more than 20 million households accessing TV exclusively over-the-air, representing 16% of all households, according to data from TVB. FTN’s targeted multicast and FAST networks complement VERSANT’s existing brands and provide a distribution model distinct from traditional pay-TV.
“As we prepare to launch VERSANT as an independent public company, we are focused on building a business with greater scale, more ways to reach audiences, and a stronger foundation for long-term growth,” said Mark Lazarus, Chief Executive Officer for VERSANT. “Reaching an agreement with Free TV Networks furthers that ambition and reflects our commitment to expanding the range of services and experiences we offer.”
“This transaction represents a thoughtful step in diversifying our entertainment business and expanding our presence across free, ad-supported platforms,” said David Pietrycha, Chief Revenue and Business Officer for VERSANT. “FTN’s portfolio complements our existing brands, and its distribution model provides an additional path to reach audiences and support our long-term strategy.”
“All of us at Free TV Networks are excited to bring new, scaled, and differentiated reach to VERSANT’s portfolio. From day one, our focus was to become the leading media company serving value-conscious consumers, by filling the entertainment gap for these viewers within the broader media marketplace. With Versant, we can scale faster, extend our ability to connect with more underserved segments, and deliver even larger audiences for our advertisers,” said Jonathan Katz, President and CEO of Free TV Networks.
Following the closing of the transaction, Jonathan Katz, FTN’s Founder, will join VERSANT, reporting to Pietrycha. Katz will continue to lead day-to-day operations of the business.
Upon completion of the spin-off from Comcast, VERSANT will be a leading independent media company comprised of a strong portfolio of brands, including USA Network, CNBC, MS NOW, Oxygen, E!, SYFY and Golf Channel, along with complementary digital assets such as Fandango, Rotten Tomatoes, GolfNow and SportsEngine.
The transaction is subject to customary closing conditions and is expected to close in early 2026.
About Free TV Networks
Free TV Networks (FTN) serves consumers as a leading independent owner of national premium free over-the-air digital broadcast networks (“diginets”) and free ad-supported streaming TV (FAST) channels. FTN has successfully launched a portfolio of digital broadcast networks including 365BLK and OUTLAW—each with corresponding FAST channels—along with DEFY, BUSTED, and PAM GRIER’S SOUL FLIX (FAST). FTN capitalizes on the resurgence of over-the-air viewing and the rapid growth of free ad-supported television. Digital broadcast networks grew their totalshare of viewing by 12% during the 2024/25 broadcast season and 25% over the last two seasons, per Nielsen. Nearly one in three U.S. households—approximately 38 million—have a digital antenna today, with projections exceeding 50 million households by 2030.
About VERSANT
VERSANT (Nasdaq: VSNT), Comcast Corporation’s planned spin-off, will be a leading independent publicly traded media company comprised of certain of NBCUniversal’s cable television networks, including USA Network, CNBC, MS NOW, Oxygen, E!, SYFY and Golf Channel, along with digital assets Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine. The well-capitalized company will have significant scale as a pure-play set of assets anchored by leading news, sports and entertainment content. The spin-off is expected to be completed in early 2026, subject to the satisfaction of customary conditions.
Forward-Looking Statements
This press release includes statements that may constitute “forward-looking statements” within the meaning of thePrivate Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of theSecurities Exchange Act of 1934. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These may include, among other things, the anticipated benefits of the proposed acquisition of Free TV Networks, the expected timing of the close of that transaction, the expected timing and benefits of Comcast’s planned spin-off of VERSANT, future business strategies, market opportunities, audiencetrends, distribution expansion, and other aspects of our operations and plans. These statements are often identified by words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,”“plan,” “potential,” “opportunity,” “will,” “would,” “should,” “could,” “may,” “goal,” “commit,” “future,” “strategy,” “project,”“forecast,” “target,” “continue,” “will likely result,” and similar expressions. However, the absence of these wordsdoes not mean a statement is not forward-looking.
Forward-looking statements involve risks, uncertainties and other factors that are difficult to predict and that may cause actual results to differ materially from those expressed or implied in the forward-looking statements, including risks relating to the satisfaction of the conditions to closing the FTN transaction, the completion and timing of the planned spin-off, our ability to integrate and realize the expected benefits of the acquisition, shifts in audience behavior,changes in the competitive or regulatory landscape, and other factors the risks described in the “Risk Factors” section of the Company’s Registration Statement on the Form 10, as amended, which has been publicly filed with the Securities and Exchange Commission.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made and involve risks and uncertainties that could cause actual events or actual results to differ materially fromthose expressed in any such forward-looking statements. Although we believe the expectations reflected in theforward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the fairness, accuracy and completeness of any of these forward-looking statements. Except as required by law, we are not under any duty to update any of these forward-looking statements or any other information contained in this release.
