Versant Media

Versant Media reported rising EBITDA, robust free cash flow and $305 million returned to shareholders in the first half, and announced an accelerated $100 million share buyback program for Q3. Management aims to generate 50% of revenue long-term outside pay-TV and plans products such as MSNOW DTC, CNBC DTC and Fandango AVOD as growth drivers. Platforms like GolfNow and Fandango show organic potential, and Full Swing is expected to deliver additional synergies. Long-term distribution and sports rights agreements and a leverage target of 1.25x are intended to provide planning certainty. » More on de.investing.com

Versant Media is repositioning Fandango as a free ad-supported streaming TV (FAST) service to compete with Tubi and Roku Channel, supported by a "We love free" marketing push. The company secured a five-year deal to stream over 300 Bundesliga matches on Fandango and USA Network and will leverage existing EPL rights, 3,500 hours of Versant content and properties like Rotten Tomatoes to attract viewers and advertisers. Versant aims to convert Fandango's 50 million monthly visitors into streaming viewers and is seeking additional sports rights while avoiding prohibitively expensive assets like the NFL. » More on forbes.com

Versant announced CNBC will simulcast 11 WNBA games this season, with the matchups also airing on USA Network under an 11-year media rights agreement. The simulcasts begin with Las Vegas Aces vs. Phoenix Mercury and aim to prevent fans from missing overlapping doubleheaders. The move expands CNBC's live-sports coverage, exposes the WNBA to CNBC's affluent audience and supports Versant's push into distribution after its corporate spinout; Indiana Fever guard Sophie Cunningham will join studio coverage. » More on cnbc.com