Versant, the media company recently spun off from Comcast, reported declining revenue and profit for its second quarter as it reshapes its business through divestitures, acquisitions and new digital ventures. The transitional period included selling SportsEngine, acquiring interactive golf business Full Swing, converting the Fandango ticketing app into an advertising-funded streaming service, and preparing digital launches for news brands MS NOW and CNBC. Despite the softer headline numbers, investors reacted positively, sending shares up 7% in premarket trading, as the company also secured multi-year renewals with major US and Canadian distribution partners and a new five-year Bundesliga rights deal.

Total revenue fell 3.8% to $1.6 billion, driven by a decline in linear distribution, the company's largest segment, to $954 million, though subscriber losses were partly offset by contractual rate rises. Platforms revenue rose 9% excluding SportsEngine, while adjusted income dropped 8.9% to $624 million and net profit fell 30%. CEO Mark Lazarus said Versant's brands reached more than 120 million viewers monthly during the quarter, and the company raised its full-year 2026 outlook for total revenue and adjusted EBITDA as it pursues a longer-term goal of an even split between pay-TV and other businesses.