- Barstool Sports’ History
- The Sale of Barstool Sports
- Who Bought Barstool Sports?
- Why Was Barstool Sports Sold?
- What Does This Mean for Barstool Sports?
- What Does This Mean for the Sports Media Landscape?
- What Does This Mean for Sports Fans?
- What’s Next for Barstool Sports?
- What’s Next for the Sports Media Landscape?
- What’s Next for Sports Fans?
Barstool Sports was sold in 2019 for a reported $450 million to Penn National Gaming.
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Barstool Sports’ History
Barstool Sports is a sports and pop culture blog founded by Dave Portnoy in 2003 in Milton, Massachusetts. The blog covers a wide range of topics including professional and amateur sports, celebrities, fashion, music, movies, and more.
In 2016, Barstool Sports was sold to The Chernin Group for a reported $10 million. The Chernin Group is a holding company that owns a number of other businesses in the media and entertainment industries.
Since being acquired by The Chernin Group, Barstool Sports has continued to grow in popularity. In 2019, the company was valued at $450 million.
The Sale of Barstool Sports
In January of 2016, Barstool Sports was sold by its founder, David Portnoy, to The Chernin Group for a reported $10-15 million. This sale came as a surprise to many, as it was widely assumed that Portnoy would never sell the company. However, it soon became apparent that the sale was simply a way for The Chernin Group to gain a majority stake in Barstool Sports, as Portnoy still retained full creative control and a significant minority stake in the company.
In October of 2017, it was reported that Penn National Gaming had purchased a 36% stake in Barstool Sports for $163 million. This valued the company at $450 million and made it one of the most valuable media properties in the world.
It is clear that The Chernin Group and Penn National Gaming see immense value in Barstool Sports and its loyal following. It will be interesting to see how the company grows in the years to come.
Who Bought Barstool Sports?
In January of 2016, Barstool Sports was sold by Portnoy to The Chernin Group for a reported $10-15 million. The Chernin Group is a private equity firm based in Santa Monica, CA, that has invested in a number of digital media properties, including Fullscreen, Crunchyroll, and Rooster Teeth.
Why Was Barstool Sports Sold?
Barstool Sports was sold in January of 2016 for a reported $10 million to The Chernin Group, a investment company run by former News Corp. executive Peter Chernin. The website was founded in 2003 by David Portnoy, who remains the president and editor-in-chief.
What Does This Mean for Barstool Sports?
What Does This Mean for Barstool Sports?
In October of 2017, it was announced that Barstool Sports had been sold to The Chernin Group for a reported $10-15 million. This was big news for the company, which had been founded just eight years prior.
The Chernin Group is a media holding company whose portfolio includes companies like Crunchbase and Otter Media. They are also known for investing in startups and digital media properties.
With this acquisition, it is clear that The Chernin Group sees value in Barstool Sports and its potential for growth. This is good news for the company, as it now has the backing of a major media conglomerate.
What does this mean for the future of Barstool Sports? Only time will tell, but with the backing of The Chernin Group, it is safe to say that the company has a bright future ahead.
What Does This Mean for the Sports Media Landscape?
On January 15th, 2019, Barstool Sports was sold to Penn National Gaming in a deal that valued the company at $450 million. This is a major development in the sports media landscape, as Barstool has been a major player in the industry for many years.
Barstool was founded in 2003 by David Portnoy, and it quickly became known for its edgy and often controversial content. The company has grown exponentially in recent years, and it now reaches millions of people each month through its various platforms.
The sale of Barstool to Penn National Gaming is a big win for both companies. Penn National Gaming is a major force in the gaming industry, and by acquiring Barstool, it gains access to a large and passionate audience. For Barstool, the deal gives the company access to new resources and opportunities for growth.
This move is likely to have major implications for the sports media landscape. Barstool has always been seen as an outsider in the industry, and its acquisition by a traditional gaming company could change that perception. Additionally, the deal gives Penn National Gaming a significant presence in the sports media world, which could lead to more deals like this in the future.
Only time will tell how this deal will impact the sports media landscape, but one thing is certain: it is sure to be interesting to watch.
What Does This Mean for Sports Fans?
On January 27th, Barstool Sports was sold to Penn National Gaming in a deal worth $450 million. This means that a company which is mostly known for operating casinos and horse racing tracks now owns one of the most popular sports media companies in the United States.
This deal is interesting for a few reasons. For one, it gives Penn National Gaming a very strong foothold in the sports media landscape. Barstool Sports has a loyal following of sports fans, and this deal will give Penn National Gaming access to those fans.
It also remains to be seen what Penn National Gaming will do with Barstool Sports. There has been speculation that they may use it as a way to promote their gambling products, but that has not been confirmed. What is clear is that this deal gives Penn National Gaming a lot of potential reach into the world of sports fans.
What’s Next for Barstool Sports?
In October of 2017, Barstool Sports was sold to Penn National Gaming in a deal that valued the company at $450 million. The sale came as a bit of a surprise to many, as Barstool had only been in operation for about six years at that point. However, Penn National saw the potential for the company to grow even more, and they have remained hands-off since the acquisition.
Now, three years later, Penn National is looking to capitalize on their investment by taking Barstool Sports public. This would allow them to raise even more money to invest in the company, and it would also give current shareholders a chance to cash out if they so choose.
The exact timeline for this IPO is not yet known, but it is expected to happen sometime in 2020. In the meantime, Barstool Sports continues to grow and expand its reach. It is now available on SiriusXM radio, and its podcast network is one of the most popular in the country. There is no doubt that Barstool Sports is here to stay, and it will be interesting to see what the next few years have in store for the company.
What’s Next for the Sports Media Landscape?
On January 16, 2020, Barstool Sports was sold by Penn National Gaming to Chernin Group for $450 million. This sale is the latest in a series of moves designed to consolidate the sports media landscape. In August 2019, Sinclair Broadcast Group acquired Twenty-First Century Fox’s regional sports networks (RSNs) for $9.6 billion. Just one month later, Disney completed its acquisition of twenty-first Century Fox, which included Fox Sports’ national networks as well as the RSNs that Sinclair Broadcast Group had just purchased. Together, these deals illustrate the ongoing consolidation of the sports media landscape.
As traditional media companies face declining revenues and audiences fragment across a growing number of digital platforms, they are turning to consolidation as a way to reduce costs and increase market power. The result is a landscape in which a few large companies control an increasingly large share of the market. This trend has worrying implications for competition, diversity, and democracy.
What’s Next for Sports Fans?
With the recent acquisition of Barstool Sports, it’s evident that sports fans are always looking for the best and most reliable source for their sports information. Barstool Sports has long been a reliable source for sports fans, and with the recent sale, it’s clear that they’re not going anywhere.
So, what’s next for sports fans?
As the new owner of Barstool Sports, Penn National Gaming is committed to continue delivering the same great content that fans have come to expect. In addition, Penn National Gaming plans to leverage its resources to further enhance theBarstool Sports brand and expand its reach.
So, what does this mean for sports fans?
Simply put, it means that they can expect more of the same great content from Barstool Sports, but with even more reach and resources behind it.