It’s the creation of Jonathan Katz, who founded the former Katz Broadcasting some 15 years ago and sold it to Scripps Networks in December 2020. Free TV Networks serves consumers with over-the-air digital broadcast networks and free ad-supported streaming TV (FAST) channels.
Soon, it will be a sibling to the newly renamed MS NOW and other cable TV brands Comcast is spinning off to a separate company.
Versant, Comcast’s planned spin-off of select media brands and digital businesses, has signed a definitive agreement to acquire Free TV Networks.
For Versant, it brings a potential broadcast home for its MVPD-distributed brands in an era where “cord-cutting” is imperiling traditional cable television services while free ad-supported streaming television is on the rise.
“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, the longtime NBCUniversal executive selected to be the Chief Executive Officer at 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.”
For Versant’s forthcoming Chief Revenue and Business Officer, David Pietrycha, “This transaction represents a thoughtful step in diversifying our entertainment business and expanding our presence across free, ad-supported platforms. FTN’s portfolio complements our existing brands, and its distribution model provides an additional path to reach audiences and support our long-term strategy.”
Following the closing of the transaction, Katz will join Versant, reporting to Pietrycha, and will continue to lead day-to-day operations of the business. Katz (whose name is pronounced “Kay-tz”), commented, “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.”
Versant’s network portfolio will include 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.
