An analyst suggests that Versant Media Group (VSNT) could emerge as a winner in the ongoing bidding war for Warner Bros. Discovery (WBD). The company's recent acquisition of Free TV Networks positions it to capitalize on the rise of free ad-supported streaming services. This comes amid a high-profile contest between Paramount Skydance (PSKY) and Netflix (NFLX) for control of WBD.
The battle for Warner Bros. Discovery has drawn significant attention from the non-business press, pitting Paramount Skydance (PSKY) against Netflix (NFLX). According to a Seeking Alpha analysis published on March 4, 2026, Versant Media Group (NASDAQ:VSNT) stands to gain regardless of the outcome, particularly if PSKY acquires WBD.
Versant, trading at a price-to-earnings ratio of 5.3, is seen as undervalued amid media industry disruptions. Its acquisition of Free TV Networks is expected to leverage the expanding market for free ad-supported streaming television (FAST) and over-the-air digital networks. The analyst highlights that a PSKY-led takeover of WBD could alter coverage at CNN and CBS, potentially driving viewers toward Versant's MS NOW and CNBC channels, especially those seeking anti-Trump perspectives.
Furthermore, MS NOW is positioned to see increased viewership during the 2026 midterm elections and ongoing global news events, which could boost revenue. The analyst, who holds a long position in VSNT shares, emphasizes these factors as sources of potential upside for the company. Seeking Alpha notes that the views expressed are those of the individual author and not necessarily the platform's overall opinion, with no investment advice implied.
