Versant Media’s third-quarter net income fell to US$47 million from US$80 million a year earlier, Variety reported. The owner of MS NOW, CNBC and USA faced lower advertising and distribution revenue while expanding non-TV and direct-to-consumer activities.
Different rates of decline
Revenue fell 4.2% to nearly US$1.6 billion from US$1.67 billion. Net income declined by more than 40%, or US$33 million. Versant cited lower revenue, public-company costs and interest expense following its separation from Comcast.
Advertising revenue was US$373 million. One comparison factor was the Ryder Cup, held in 2025 but not in 2026. Chief financial officer Anand Kini’s positive assessment of advertising demand is a management view alongside the reported revenue decline.
Non-TV revenue rose 9.6%, with the company citing Fandango ticket sales and its new cinema operating platform. Chief executive Mark Lazarus also highlighted Full Swing integration and the launch of MS NOW Membership.
Contracts and audiences are separate measures
Lazarus said major distribution renewals were completed, with 75% of network subscribers contracted into 2028 or beyond. That is reported contractual coverage rather than guaranteed future revenue.
In a separate article, Variety put MS NOW’s third-quarter primetime audience at an average 930,000, up 16%. Audience growth is distinct from revenue or profit. Versant maintained its US$6.2–6.45 billion annual revenue projection. New-service implementation and subsequent results will provide the next comparison with that forecast while traditional television revenue remains under pressure.