Versant Joins Forces with StockStory to Boost CNBC’s Online Growth
Versant Media Group has announced its acquisition of AI-powered StockStory, a move aimed at bolstering CNBC’s digital growth since the company separated from Comcast and went public earlier this year. Financial details of the transaction were not disclosed.
The StockStory platform offers financial analysis, market insights, and stock recommendations, enhancing CNBC’s data-driven capabilities. According to Versant, this acquisition is part of its strategy to expand into digital platforms while strengthening CNBC’s ability to provide timely and actionable insights for investors.
“At Versant, we’re focused on extending our core brands into new platforms and services to drive growth across our portfolio,” said Deep Bagchee, Chief Product and Technology Officer for News at Versant. “This acquisition builds on that approach, adding capabilities that will enhance how we deliver insights and deepen engagement among retail investors across CNBC’s digital offerings.”
Adam Hejl, founder and CEO of StockStory, expressed pride in the platform’s accomplishments. “We’re proud of what our team has built at StockStory – a platform combining AI and data-driven insights to help investors make better decisions,” Hejl stated. “We’re excited to join CNBC, a defining and deeply respected global brand, and contribute to its next chapter of digital growth.”
StockStory’s innovative technology focuses on scalable analysis of public companies, integrating data, machine learning, AI, and editorial frameworks to produce investment insights. These features are expected to enrich CNBC’s coverage significantly.
As part of the acquisition, Hejl will join Versant and report to Bagchee. Additionally, Versant indicated that the capabilities of StockStory may be utilized across its wider portfolio, which includes MS NOW, USA Network, Golf Channel, E!, SYFY, and Oxygen, as well as digital platforms like Fandango, Rotten Tomatoes, GolfNow, and GolfPass.
This acquisition follows Versant’s earlier purchases, including Free TV Networks, which offers national premium free over-the-air digital broadcast networks and ad-supported streaming TV channels, and Indy Cinema Group, a cloud-based cinema operating system that will be integrated under Fandango.
