Big Media is ditching cable TV. Versant CEO Mike Lazarus says cable can still be a good business.

Big Media is ditching cable TV. Versant CEO Mike Lazarus says cable can still be a good business.

Versant Media is a spin-off from Comcast, made up of cable TV networks like CNBC and MSNBC - now called MS Now.NYSEThe cable TV industry is in decline. But cable TV networks still generate a lot of cash.So the plan for Versant Media, the cable TV company spun out of Comcast, is to use that cash to pivot out of cable TV.CEO Mark Lazarus explains the strategy, which includes new spending on sports rights.Big Media companies have spent the last few…