Exclusive: Versant not likely to buy Skydance cable networks, CEO Mark Lazarus says

What he's saying: "Buying more cable assets on a large scale would prolong our life but not necessarily make our life better because we still have the secular decline," he said.

• "But just buying big networks or a bunch of networks that don't necessarily change our trajectory is probably not in our short-term future."
• Versant is instead focusing on diversifying its revenue "in adjacent businesses that are incredibly powerful consumer branded networks as an amplifier and create bigger businesses," like golf.

Catch up quick: Lazarus said the company's initial strategy post-spinout is to look for opportunistic M&A alongside its existing businesses.

• Versant's properties include business news in CNBC, political news and opinion with MS NOW, sports and entertainment brands like USA and Syfy, as well as movie ticketing business Fandango.
• Wall Street has speculated that Skydance could sell some assets as it looks to restructure and consolidate its business after completing the Warner Bros. Discovery merger.