Versant CEO Mark Lazarus on growth strategy: Vertical is the way to go

Watch on YouTube ↗  |  January 05, 2026 at 14:19  |  7:37  |  CNBC
Speakers
Mark Lazor — CEO, Versant
Andrew Ross Sorkin — Co-Anchor, Squawk Box

Summary

Mark Lazarus, CEO of Versant, joins Squawk Box on the company's first day trading as an independent Nasdaq company. He outlines a growth strategy centered on investing in verticals rather than adding horizontal linear scale, including CNBC digital expansion, a DTC product for MS Now, Free TV Networks, Indie Cinema, and the Golf Channel model. Lazarus emphasizes Versant's fortified balance sheet, live news/sports mix, and potential undervaluation versus standalone peers. He also comments on possible Warner Bros. Discovery asset interest, saying food is interesting but not a priority.

  • Versant begins trading as an independent Nasdaq company after a Comcast/NBCU spin-off.
  • CEO Mark Lazarus says independence allows more investment in its brands.
  • Strategy favors vertical growth over horizontal linear scale.
  • Portfolio is 62% live news and sports, with CNBC, MS Now, USA Network, and Golf Channel.
  • Organic plans include CNBC digital/retail investor push and an MS Now DTC product.
  • Acquisitions include Free TV Networks and Indie Cinema.
  • Lazarus says the balance sheet is fortified and valuation compares favorably to pure plays.
  • WBD food assets are interesting but not a priority.
Ideas
Mark Lazor CEO, Versant 0:46
Versant's vertical media strategy can unlock value.
Versant is now an independent, profitable media portfolio with a fortified balance sheet that can invest in its own brands after being managed inside Comcast/NBCU with other priorities. Lazarus argues the best path is to build vertically around existing franchises—especially live news and sports, CNBC's digital/retail-investor opportunity, a DTC product for MS Now, and the Golf Channel model of tee times, subscriptions, and software—while making small acquisitions like Free TV Networks and Indie Cinema to diversify away from pay-TV dependence and strengthen Fandango. He believes this vertical strategy differentiates Versant, and that the company compares favorably with standalone pure plays and may be undervalued relative to peers or stub valuations.
Versant HIGH
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This CNBC video, published January 05, 2026, features Mark Lazor discussing Versant. 1 trade idea extracted by AI with direction and confidence scoring.

Speakers: Mark Lazor  · Tickers: Versant