NEW YORK—Versant has announced the completion of its acquisition of Free TV Networks (FTN), a leading provider of national free over-the-air digital broadcast networks (diginets) and free ad-supported streaming TV (FAST) channels.
Financial terms of the deal were not disclosed.
Versant was recently spun off from NBCUniversal as a public company owning a variety of cable networks.
FTN will operate within Versant as a dedicated business, expanding the company’s reach across over-the-air and FAST distribution, extending its footprint beyond traditional pay-TV, and scaling access to audiences engaging with free, ad-supported television.
FTN’s portfolio of multicast and FAST networks complements Versant’s existing portfolio of brands by introducing a distinct distribution model designed to serve growing segments of viewers who increasingly engage with free television options.
Jonathan Katz, FTN’s Founder, has joined Versant, reporting to David Pietrycha, chief revenue and business officer. Katz will continue to lead day-to-day operations of the business.
The company reported that the deal follows its recent acquisition of INDY Cinema Group, operating under Fandango. Both deals aim to reinforce the company’s strategy of building vertical businesses that extend distribution, deepen audience engagement, and develop new audience touchpoints on both existing and new platforms.
FTN has successfully launched a portfolio of digital broadcast networks including 365BLK and OUTLAW—each with corresponding FAST channels—along with DEFY, BUSTED, and PAM GRIER’S SOUL FLIX (FAST).
