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Versant and Verizon have come to terms on a renewal of the companies’ distribution agreement, a move that means the media company, in its first year since being spun off from Comcast, has renewed all such deals expiring
in 2026.
“Verizon is a valued distribution partner, and this long-term renewal reflects the clear value our portfolio delivers to distributors and audiences,” said Dave Pietrycha, Versant’s chief revenue and business officer, in a statement. “We are pleased to continue bringing Verizon customers the premium live news, sports and entertainment programming they value.”
Terms of the deal were not disclosed, but more than half of Versant’s distribution deals are under agreements that run through 2028 and beyond, according to a person familiar with the matter.
While Versant has articulated a plan to broaden its revenue beyond traditional TV, that platform at present delivers the bulk of its financial fuel, which makes distribution alliances a primary financial benchmark for the company. Versant properties including MS NOW and CNBC are in various stages of developing new direct-to-consumer properties that aim to broaden the corporation’s revenue mix.
During a call with investors and analysts following the company’s second-quarter earnings report, Mark Lazarus, Versant’s CE), noted the company had recently completed multi-year renewals with two large pay-TV distribution partners, one in the US and one in Canada.
“Versant offers an iconic portfolio of brands and we’re pleased to continue bringing their popular lineup of news, sports and entertainment to Verizon customers,” said Matt Coakley, senior vice president of consumer growth at Verizon, in a statement. “We look forward to continuing our partnership alongside a diverse array of premium programming available to Fios customers.”
