Versant has completed its acquisition of Free TV Networks (FTN), adding a portfolio of US free-to-air digital and FAST channels as the newly listed company looks to widen its distribution footprint beyond traditional pay-TV.
FTN will operate as a dedicated business within Versant, focused on scaling reach across over-the-air multicast and free ad-supported streaming. The company positions the deal as a way to tap growing audiences for free, ad-supported television.
FTN founder Jonathan Katz is joining Versant and will report to chief revenue and business officer David Pietrycha, while continuing to run the unit day-to-day.
Versant said the move follows its recent acquisition of INDY Cinema Group, now operating under Fandango, as it builds vertical businesses intended to extend distribution and create additional audience touchpoints.
