New York, NY – December 4, 2025 – In a significant power play within the rapidly evolving media landscape, VERSANT, Comcast’s highly anticipated spin-off of select media brands and digital businesses, announced a definitive agreement to acquire Free TV Networks (FTN).

This move isn’t merely an expansion; it’s a strategic pivot, broadening VERSANT’s entertainment portfolio and firmly planting its flag in the burgeoning free over-the-air digital broadcast networks (“diginets”) and free ad-supported streaming TV (FAST) channels market.

Free TV Networks (FTN) is a leading independent owner in this space, known for successfully launching a portfolio of digital broadcast networks like 365BLK and OUTLAW, alongside their corresponding FAST channels, plus DEFY, BUSTED, and PAM GRIER’S SOUL FLIX. This acquisition taps into a clear trend: the over-the-air audience is growing, with over 20 million households in the U.S. accessing TV exclusively without traditional cable, representing a hefty 16% of all households. FTN’s data further highlights the growth, with diginets increasing their viewing share by 12% in the 2024/25 broadcast season alone.

VERSANT, poised to become a leading independent publicly traded media company upon its spin-off from Comcast, is clearly building an empire designed for the modern viewer. Its existing portfolio is already impressive, featuring cable mainstays like USA Network, CNBC, Oxygen, E!, and SYFY, complemented by digital powerhouses such as Fandango, Rotten Tomatoes, GolfNow, and SportsEngine. The addition of FTN offers a distribution model starkly distinct from traditional pay-TV, aiming to reach these growing, value-conscious consumer segments.

Mark Lazarus, CEO of VERSANT, made no secret of the ambition behind the deal, stating, “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.”

David Pietrycha, VERSANT’s Chief Revenue and Business Officer, reiterated this, emphasizing the diversification into “free, ad-supported platforms.” It sounds like a win for consumers, but is it truly about serving the “underserved” or simply expanding ad inventory?

Jonathan Katz, FTN’s Founder, President, and CEO, who will join VERSANT to continue leading day-to-day operations, champions the mission to fill the “entertainment gap” for value-conscious consumers. He projects that with VERSANT, FTN can “scale faster” and “deliver even larger audiences for our advertisers.” This transparency is refreshing, highlighting that “free” entertainment is inextricably linked to ad revenue. While consumers save on subscriptions, they’re exchanging cash for attention.

This transaction, expected to close in early 2026, signals a clear future for media giants: consolidate, diversify, and adapt to shifting viewing habits.

With projections of digital antenna households exceeding 50 million by 2030, the “free” model is undeniably attractive.

But as major players like VERSANT increasingly dominate this space, the core question remains: will this new era of “free” television truly empower consumers with diverse, high-quality content, or will it simply create new, ad-saturated pathways to old content, albeit without a monthly bill?