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

Versant Media Group acquired a minority stake in microdrama app GammaTime as part of its Series A, pairing the investment with agreements to adapt parts of Versant's entertainment library into vertical scripted originals. The deal excludes news brands and reflects a strategy to test legacy TV IP in mobile-native short-form formats while ceding control of discovery, data and conversion to the app. Studios are favoring minority investments to gain optionality and learn microdrama economics, since ownership of content does not equal ownership of the mobile audience funnel. » More on forbes.com

Versant Media Group reported Q1 revenue of $1.69 billion, down 1.1% year‑on‑year, and net income of $286 million, down 22%, but both topped analyst expectations, sending shares up about 10%. The company announced an additional $100 million share repurchase for Q2, on top of $100 million repurchased in Q1. Pay‑TV distributor revenue fell 7.3% and advertising revenue declined 5.2%, while the platform business grew over 9% to $192 million; Versant reiterated its goal of a long‑term 50/50 split between linear and digital/subscription revenue and is rolling out standalone streaming services. » More on forbes.com