Versant's Free TV Networks Expands with CBS and Sling Deals

Free TV Networks (FTN), Versant's recently acquired broadcast unit, made its first big move by inking major distribution deals with CBS and Sling Freestream. The expansion is a clear shot across the bow, planting Versant's flag in the free, ad-supported television market just a month after the company's buyout.

• Airwaves and streams: The two-front push targets both broadcast and streaming audiences. FTN’s Western-themed Outlaw channel and 365BLK, a network focused on Black culture, will launch on 16 CBS-owned stations, boosting their reach to over 90% of U.S. TV households. Meanwhile, the FAST channel Pam Grier’s Soul Flix lands on Sling Freestream, expanding its digital footprint.

• Filling the void: The deal sees FTN’s channels moving into broadcast slots recently vacated by Fave TV, after parent company Paramount shuttered the network earlier this month. It's the first major play for FTN under Versant, which itself spun out of Comcast/NBCUniversal in January to build a business beyond the legacy pay-TV model.

• The official script: "These agreements accelerate our growth plans," said FTN president Jonathan Katz in a press release. Versant’s Chief Revenue and Business Officer, David Pietrycha, added that the move advances a "scalable, free, ad-supported model that complements our broader portfolio."

This expansion is the first concrete step in Versant's strategy to diversify its revenue and compete for eyeballs shifting away from traditional cable bundles and toward free content. The move is the direct result of Versant completing its acquisition of Free TV Networks last month, setting the stage for this expansion.