Versant Media Group, which owns networks like CNBC and the Golf Channel, has announced its acquisition of Full Swing from Bruin Capital for about $530 million in cash. This acquisition aligns with CEO Mark Lazarus's strategy to expand Versant's reach into non-traditional media sectors, following its public trading debut in January after spinning out from Comcast.
Earlier this year, Versant also acquired StockStory, an AI-driven platform for financial insights, indicating a clear focus on enhancing its digital and platform-based revenue streams. The company aims to achieve a revenue mix where 50% comes from digital, subscription, and transactional businesses.
Full Swing, which specializes in golf and baseball simulators, will benefit from Versant's scale and distribution capabilities, as noted by its CEO Ryan Dotters. The deal is expected to close by the end of the year, further solidifying Versant's position in the sports and digital media landscape