Versant unlikely to buy Skydance's cable networks

Versant, the Comcast cable spinout, is unlikely to acquire Skydance's cable networks, chief executive Mark Lazarus told Axios, arguing large-scale cable M&A "would prolong our life but not necessarily make our life better because we still have the secular decline". He said the company is focused on adjacent consumer-branded businesses such as golf, and admitted the spinout has not yet created value: "We are undervalued." Seen in: Axios Media Trends (Sara Fischer).