Versant unlikely to buy Skydance cable networks, Lazarus says

Versant Media is unlikely to bid if Skydance sells cable networks, CEO Mark Lazarus said Tuesday at Axios Media Trends Live in New York, per Deadline. Lazarus said buying at scale would prolong Versant's life but not make it better amid secular decline. Skydance, with 50-plus networks after its October merger, says it plans to keep them.