Versant Media's Digital Growth Outweighed by Linear TV Pressure, Morgan Stanley Says

11:32 AM EDT, 10/15/2026 (MT Newswires) -- Versant Media (VSNT) is likely to face lower revenue through 2027 to 2029 as weakness in traditional TV continues, while growth from digital platforms may only partly offset those declines and risks around pricing and sports rights remain, Morgan Stanley said in a note Thursday. Morgan Stanley expects Versant Media's traditional TV business, which makes up about 80% of revenue, to decline at a mid-single-digit rate, while its digital business remains too small to fully make up for the weakness. The investment firm said Golf, Fandango, CNBC and MS NOW direct-to-consumer services could become more important growth drivers, though there is still limited visibility on how quickly those businesses can scale, but the company's focus on live news and sports, along with its stronger financial flexibility, leaves it better positioned than some other cable network companies. Versant Media could face future pressure when affiliate pricing and sports rights contracts are renewed, although contracts that expire at different times and improving ratings should limit the near-term impact, according to the note. Morgan Stanley started coverage of Versant Media with an equal-weight rating and a $38 price target. Price: 31.35, Change: +0.36, Percent Change: +1.18