Versant Completes Acquisition of FAST Channel Provider Free TV Networks [Yahoo! Finance]
Comcast Corporation - Class A (CMCSA)
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Source: Yahoo! Finance
Free TV Networks houses free over-the-air digital broadcast networks, including Outlaw, 365BLK and Busted TV. Additionally, the company offers free ad-supported streaming or FAST channels to subscribers. As part of Versant, the Free TV Networks will help the company scale its access to audience outside of the traditional pay television model. “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,” Mark Lazarus, CEO of Versant, said about the acquisition in December. “Reaching an agreement with Free TV Networks furthers that ambition and reflects our commitment to expanding the range of services and experiences we offer.” Free TV Networks has more than 20 million households accessing its channels exclusively over-the-air, representing 16% of all households, according to data from TVB. Executives for Versant said that the transaction
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