Versant Media Group, Inc.

Versant has reached a multi-year renewal of its distribution agreement with Verizon, keeping its portfolio of brands available to Verizon customers. The long-term deal covers USA Network, MS NOW, CNBC, Oxygen True Crime, Golf Channel, E!, and SYFY. With the Verizon agreement complete, Versant said it has now successfully renewed all distribution partnerships expiring in 2026. Chief Revenue and Business Officer Dave Pietrycha called Verizon a valued distribution partner and said the renewal reflects the value the portfolio delivers to distributors and audiences. Verizon SVP of Consumer Growth Matt Coakley said the company looks forward to continuing the partnership alongside a diverse array of premium programming available to Fios customers. Terms of the agreement were not disclosed.

Versant Media Group reported second-quarter 2026 results that show a company in transition, with revenue slipping 3.8% year over year to $1.64 billion and net income attributable to Versant falling 30.1% to $211 million, yet the same report included a raised full-year outlook, a third straight quarterly dividend, and a second $100 million stock buyback. Adjusted EBITDA declined 8.9% to $624 million, but on a standalone basis it grew 3.0%, prompting management to raise full-year revenue guidance to $6.2 billion to $6.45 billion and Adjusted EBITDA guidance to $1.9 billion to $2.05 billion. Growth is coming from platforms revenue, which climbed 9.3% excluding the divested SportsEngine business, driven by Fandango and GolfNow, along with new distribution renewals and sports rights deals including a five-year Bundesliga agreement. However, linear distribution revenue, the largest segment, dropped 6.3% as cord-cutting continues, and advertising revenue slipped 0.6%. The company also cited higher standalone costs, new interest expense, and a larger tax bill from the SportsEngine sale as factors in the profit decline.

Versant Media reported second quarter 2026 results and raised its full-year revenue and adjusted EBITDA guidance during its earnings call on Thursday, August 6, 2026. Total revenue for the quarter was $1.64 billion, a decline of 4% compared to the prior year, while adjusted EBITDA rose 3% to $624 million. The company now expects full-year revenue between $6.2 billion and $6.45 billion, up from the prior range of $6.15 billion to $6.4 billion, and adjusted EBITDA between $1.9 billion and $2.05 billion, up from $1.85 billion to $2 billion. Versant also announced an additional $100 million accelerated share repurchase program and highlighted the acquisition of Full Swing, a golf technology company, as well as a five-year agreement with the Bundesliga to broadcast more than 300 live soccer matches annually.

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Versant Media Group has agreed to acquire sports technology company Full Swing for about $530 million in cash from private equity firm Bruin Capital and minority investors. The deal will add an interactive sports platform to Versant's golf business, which includes Golf Channel, GolfNow and GolfPass, and expand its capabilities into interactive sports experiences. Gibson Dunn acted as legal advisor and Moelis & Company LLC as financial advisor to Versant, while Kirkland & Ellis LLP acted as Bruin's legal counsel. The transaction is expected to close in the second half of 2026. In pre-market activity on Nasdaq, Versant shares were down 0.21 percent at $37.87.