CNBC to wade further into live sports with 11 simulcast WNBA games

The WNBA is expanding its footprint to CNBC.

CNBC parent Versant announced Wednesday that the business news network will simulcast 11 WNBA games this season. The matchups will also air on Versant's USA Network.

Last September, Versant and the WNBA announced an 11-year media rights agreement that includes both regular-season and postseason games. As part of that deal, USA Network will air at least 50 games annually.

Coverage on CNBC begins Wednesday night with the defending champion Las Vegas Aces taking on the Phoenix Mercury at 10 p.m. ET. That game is the second of a doubleheader that kicks off with the New York Liberty and Chicago Sky at 8 p.m. ET on USA Network.

The goal of the simulcasts is to ensure that fans don't miss any of the action, according to USA Sports President Matt Hong. As doubleheaders can occasionally run long, the simulcast will allow viewers to choose which game to tune into if they overlap.

The simulcast will also expose the WNBA to an affluent audience on CNBC as the league seeks to capitalize on booming popularity.

"It's really a promise that we make to not only the WNBA, but all our league partners that we'll look for new audiences for them," Hong said Wednesday on CNBC's "Squawk Box."

Wednesday also marks the debut of Indiana Fever guard Sophie Cunningham as an athlete contributor for Versant. She will be involved in studio coverage for both games of the doubleheader on both networks.

The simulcast agreement marks a fresh chapter for CNBC as it explores new revenue streams and navigates a corporate spinout from its former parent, Comcast.

While CNBC has previously carried Olympic events and occasional golf events, the WNBA simulcast represents a further push into live sports for the cable channel.

"Sports is obviously must-see television. I'd put live news and live financial news in that category as well," said Hong.

That could help Versant in future distribution deals with pay TV providers. Versant is now negotiating these carriage deals on its own after previously tying its programming to NBCUniversal when it was part of Comcast.

Versant's brands also include MS NOW, E!, SyFy and Oxygen, in addition to digital platforms Fandango, Rotten Tomatoes, GolfNow and GolfPass.

Since news of Versant's spin-off, Hong has signed five new, expanded or extended rights deals.

The company has deals with several other professional sports leagues including NASCAR, the PGA Tour, LPGA, and Pac-12 football and basketball.

Disclosure: Versant is the parent company of CNBC.