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☆ Florida State University taps JPMorgan to help find potential investors
▼ + stars: | 2023-08-04 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Florida State University has been working with JPMorgan as it explores options to bring in funding from institutional investors, according to a person familiar with the matter. The discussions have been ongoing in recent months, and Sixth Street Partners has expressed interest as an investor, the person said. The discussions with potential equity investors are not tied to FSU's potential push to leave the conference, according to the person familiar with the matter. Sportico earlier reported that FSU was working with JPMorgan and that Sixth Street was part of the discussions. "That effort fell apart, mainly because it was a challenge to mesh private investors with the potential media rights for public schools," said sports media consultant Lee Berke.

Persons: Lee Berke, we're, Berke Organizations: Florida State University, JPMorgan, Sixth Street Partners, Atlantic Coast Conference, NCAA, FSU, Sixth, ACC, Southeastern Conference, ESPN, Media

☆ ScorePlay, a sports media platform using AI, just raised $5 million in a round led by Alexis Ohanian's Seven Seven Six
▼ + stars: | 2023-07-26 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Lisbon and New York-based ScorePlay has secured a $5 million seed round from Seven Seven Six. A startup that has built a media operating system for sports has just raised $5 million in seed funding from Reddit cofounder Alexis Ohanian's Seven Seven Six. As a business-to-business software startup, ScorePlay makes its money by charging a monthly fee to organizations, depending on the range of services they use. The round was led by Reddit cofounder Alexis Ohanian's VC firm Seven Seven Six, which has previously backed climate tech Vaayu, and creator marketing platform PearPop. With the fresh funding, ScorePlay will grow its tech team so it can hone in on its enterprise offerings.

Persons: ScorePlay, Alexis Ohanian's Seven, Xavier Green, Lionel Messi, Declan Rice, Victorien Tixier, Alexis Ohanian's, Kevin Durant, Renaud Visage, Michael Philippe, Robin Sabban Organizations: Seven Seven, Premier League football, West Ham United, La Liga, Atlético de, Athletes, Seven, NBA, Tech Locations: Lisbon, New York, Atlético de Madrid, Manchester

☆ 3 trends that will redefine sports media as the industry reckons with layoffs, AI, and more
▼ + stars: | 2023-07-25 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +8 min

More news jobs have already been cut this year than in all of 2022 and 2021, per a firm that tracks layoffs. Industry experts explain the three media trends that could replace traditional sports journalism. Wiacek said that the 18- to 30-year-old demographic is key for traditional media organizations, yet the hardest to reach. "The more traditional media outlets are trying to find ways of attracting that audience," Wiacek said. Hanlon said team communications are essential for growing leagues like the NWSL that can't wait around for classic media coverage to pour in, especially in local markets.

Persons: Andy Challenger, It's, Challenger's, Challenger, Conrad Wiacek, Wiacek, Pat McAfee, CJ McCollum, McAfee, famer David Ortiz, JJ Redick, isn't, Tim Hanlon, Hanlon, They're Organizations: ESPN, New York Times, Sports Illustrated, Warner Bros, The Athletic, NFL Media, Times, Los Angeles Times, Industry, Sports, YouTube, Indianapolis Colts, NBA, famer, Leagues, MLS, LA Times, Associated Press, Minor League Baseball Locations: FanDuel, pickleball

☆ How Ally Financial made women's sports a key focus in its marketing strategy and how it's measuring the results
▼ + stars: | 2023-07-24 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +4 min

Ally Financial made a pledge last year to invest equally in men's and women's sports media. The company is dropping a commercial featuring female athletes during the FIFA Women's World Cup. A year ago, an internal audit by Ally Financial revealed the company had spent 90% of its sports-media marketing budget on men's sports. The brand also signed 10 female athletes to create Team Ally, a group that posts about one another's games and increases visibility for women's sports. Notre Dame lacrosse player Kasey Choma, who's also part of Team Ally, is featured scoring a goal.

Persons: Ally Financial, Billie Jean King, Sophia Smith, Stephanie Marciano, it's, Ally, Marciano, Kasey Choma, who's, Choma, she's Organizations: FIFA, US Women's National Team, Ally, Labs, CBS, ESPN, INC, Fox, Notre Dame, Yale, III Locations: men's, Australia, New Zealand, US, Germany

☆ Opinion: As you cheer on America’s soccer stars in the Women’s World Cup, ask yourself this question
▼ + stars: | 2023-07-20 | by ( Opinion Robyn Ryle | ) edition.cnn.com time to read: +8 min

CNN —The 2023 Women’s World Cup Championship begins this week in Australia and New Zealand, and will be, for all appearances, a victory lap for gender equality in sports. Additionally, not all the physiological evidence lines up in men’s favor when it comes to athletic performance. Perhaps it’s no coincidence that the most popular sports worldwide are those that also most exaggerate underlying gender differences. Would the gap in athletic performance persist if girls truly had the same opportunities as boys to play at all levels? In 2023, as we enjoy the spectacle of mega-athletes like Megan Rapinoe and Alex Morgan, it’s time to rethink our stories about gender and athletic performance.

Persons: Robyn Ryle, it’s, they’re, Steph Curry’s, They’re, Megan Rapinoe, Alex Morgan Organizations: Hanover College, CNN, US, National, Manhattan, Research, Women’s Sports Foundation, NBA, Twitter Locations: Australia, New Zealand

☆ The Grim Reaper is coming for the sports desk. Here's what industry experts say could take its place.
▼ + stars: | 2023-07-20 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +7 min

Industry experts explain the three media trends that could replace traditional sports journalism. But Challenger and other experts say the demand for sports content isn't going anywhere: it's just going to look, and sound, a little different. Wiacek said that the 18- to 30-year-old demographic is key for traditional media organizations, yet the hardest to reach. "The more traditional media outlets are trying to find ways of attracting that audience," Wiacek said. Hanlon said team communications are essential for growing leagues like the NWSL that can't wait around for classic media coverage to pour in, especially in local markets.

☆ What China's resilient big spenders are buying and the stocks that benefit
▼ + stars: | 2023-07-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

That's approximately how large China's "premium" consumer population is – and it's a "huge" opportunity for higher-end sportswear by foreign companies, according to Bernstein. By U.S. standards, it doesn't take much to be considered premium in China. Adidas and Nike are like Benz, BMW, the highest end, he said, while the other brands are like Audi or Toyota. For Nike and Adidas, even their lowest price is two times that of local competitors, the Bernstein analysts said. However, focusing only on the premium growth segment can overlook the fact that many of China's consumers still live in smaller cities.

Persons: Bernstein, Aneesha Sherman, Li Ning, Irving, Miao Kun, –, Hoka, — CNBC's Michael Bloom Organizations: . Census, Anta Sports, Wednesday, basketball, Adidas, Nike, Benz, BMW, Audi, Toyota, Management, P Locations: China, That's, U.S, Hong Kong, Beijing, Thursday's, Germany, eyeing, Shanghai, Chengdu

☆ SlamBall: The sport ahead of its time is making a long-awaited comeback
▼ + stars: | 2023-07-14 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +7 min

“SlamBall is special because it’s a brand that has lived on in social media in a really powerful way. Making its comeback for a 2023 summer league, SlamBall will be back on TV screens, via ESPN, and hopes to attract new viewers. The sport has lived on via social media clips of crazy moves. SlamBall LLCDreams becoming reality“I had this recurring dream all the time,” Gordon says of the origins of the sport. “Social media didn’t exist, Twitter didn’t exist, TikTok didn’t exist.”With incredible dunks like George Byrd's on Kevin Cassidy, SlamBall has huge viral potential.

Persons: Mason Gordon, SlamBall, ” Gordon, ”, Gordon, “, Gerard Gordeau, Taylor Wily, Markus Boesch, Stan “, ” Fletcher, Fletcher, ‘, Stan, Jim Heath, “ I’m, Fletcher’s SlamBall, Michael Jordan, Julius “ Dr, J ” Erving, Mike Tollin, SlamBall’s, Ben Peppi, George Byrd's, Kevin Cassidy, Pat Ecclesine, BringBackSlamBall, Pat Ecclesine ‘, “ There’s, it’s Organizations: CNN, NFL, NBA, MLB, MLS, CNN Sport, ESPN, UFC, Mandalay Sports Media, Twitter, ’ Locations: Las Vegas, Los Angeles

☆ Disney CEO Bob Iger on ESPN: Bullish on sports but open to finding a new strategic partner
▼ + stars: | 2023-07-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney CEO Bob Iger on ESPN: Bullish on sports but open to finding a new strategic partnerCNBC's David Faber and Disney CEO Bob Iger join 'Squawk Box' from Sun Valley, Idaho to discuss the fate of ESPN, sports media landscape, and more.

Persons: Bob Iger, CNBC's David Faber Organizations: ESPN, Disney Locations: Sun Valley , Idaho

☆ We will start to see more old and new media combos in sports broadcasting: Bruin Capital's Pyne
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe will start to see more old and new media combos in sports broadcasting: Bruin Capital's PyneGeorge Pyne, Bruin Capital founder and CEO, joins 'Last Call' to talk the future of sports media companies and legacy broadcasters.

Persons: Bruin Capital's Pyne George Pyne Organizations: Bruin, Bruin Capital

☆ Read the pitch decks from sports and video game startups that helped raise millions of dollars
▼ + stars: | 2023-07-06 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Here are pitch decks 10 sports startups used to raise millions in Series A and Seed rounds. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators. Insider talked with a handful of sports startup founders who've pitched their startups to investors about their process. They broke down the pitch decks they used to secure millions of dollars in funding. Read the pitch decks that helped 10 sports-focused startups raise millions of dollars:This post has been updated with new information.

Persons: It's, Kevin Kim, Kim, who've Organizations: Sports, Venture, Technology, Labs, NBA Locations: California

☆ Roku will air Formula E races as part of the streamer's first live sports deal
▼ + stars: | 2023-06-27 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +3 min

Roku will become the U.S. streaming home of Formula E, the electric vehicle-powered auto racing series, with both live and on-demand replays of races. Starting with the upcoming season, the Roku channel will host 11 ABB FIA Formula E World Championship races, it said in a press release. Beginning in January, five races will also air live on CBS and simulcast on Paramount+, which will be accessible through Roku. Debuting at the Olympic Park in Beijing in 2014, Formula E's races take place worldwide, and the first fully electric racing series currently features 12 teams and 24 drivers. Last year, the company said races reached a record high of 216 million live viewers, up 10% from the previous season.

Persons: Roku, Aarti Dabas, — CNBC's Lillian Rizzo Organizations: Formula, CBS, ABB FIA Formula, Paramount, Formula E, Netflix, Research, Disney, ESPN, Comcast, NBA, Turner Sports, CNBC Locations: U.S, Portland , Oregon, Beijing

☆ Madison Square Garden Sports getting a boost from higher price tags on sports teams, says Jim Cramer
▼ + stars: | 2023-05-08 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Madison Square Garden Sports getting a boost from higher price tags on sports teams, says Jim Cramer'Mad Money' host Jim Cramer talks major sports media stocks and their connection to the growing costs of sports franchises.

☆ Hardcore wrestling fans are torn over the WWE-UFC merger – but they love the drama
▼ + stars: | 2023-05-06 | by ( Natasha Piñon | ) www.cnbc.com time to read: +2 min

For wrestling fans, though, the story's not about those numbers. And wrestling fans aren't afraid to share their opinions. Some are worried that a return to a pay-per-view model for WWE's flagship event, WrestleMania, is on the horizon. The WWE's exclusive streaming deal with Peacock, which includes WrestleMania streaming rights, is set to expire in 2026. In late March, before the UFC deal was announced, WWE CEO Nick Khan said the company keeps fans' price sensitivity in mind.

☆ Warner Bros. Discovery reports big overall loss even as streaming turns a profit
▼ + stars: | 2023-05-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

Warner Bros. Warner Bros. Warner Bros. Warner Bros. WATCH: Warner Bros.

☆ Twitter users have found a loophole to get their legacy verified blue ticks back just by writing a few key words in their bios
▼ + stars: | 2023-05-02 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

People have found a way to get their Twitter blue checks back for free — though it's just a temporary fix. Legacy verified Twitter users have found a temporary fix to get their blue tick back for free — just by adding in a few words to their bio. Cheryl Teh, a news editor from Insider — who lost her blue tick when Twitter CEO Elon Musk axed the legacy blue tick program on April 1 — confirmed that writing "former blue check" in her bio restored the blue tick. But Musk replaced it with a subscription-based service, where legacy verified users could keep their checkmarks by signing up for the Twitter Blue subscription program. The posthumously installed blue tick beside these celebrities' names on Twitter erroneously claims: "This account is verified because they are subscribed to Twitter Blue and verified their phone number."

☆ Apple CEO Tim Cook to meet with India’s Prime Minister Narendra Modi following Mumbai store opening
▼ + stars: | 2023-04-18 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

Prime Minister Narendra Modi launches slew of infrastructure projects from MMRDA Grounds, at Bandra-Kurla Complex, Bandra (East) on Jan. 19, 2023 in Mumbai, India. After opening a flagship store in Mumbai, CEO Tim Cook will travel to New Delhi to meet with Indian Prime Minister Narendra Modi on Wednesday. Apple's growth in India is widely seen as a success story by Modi and Indian officials. Flipkart and Amazon are dueling for the top spot in India's e-commerce market, and both face competition from newcomer Meesho. — CNBC's Steve Kovach contributed to this reportWATCH: Tim Cook visits India to open first Apple retail store

☆ Shaq was finally served in FTX lawsuit over the weekend, after a 3-month chase
▼ + stars: | 2023-04-18 | by ( Will Gendron | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Shaquille O'Neal was finally served in an FTX lawsuit over the weekend following a three month chase. Shaquille O'Neal was served papers over the weekend in a lawsuit involving the fallen crypto firm FTX — after a three month chase, according to a law firm representing investors in the suit. "Plaintiffs in the billion $ FTX class action case just served @SHAQ outside his house," The Moskowitz Law Firm tweeted Sunday night. O'Neal had evaded getting served the lawsuit for three months, according to additional tweets from the law firm. Following the collapse of FTX, O'Neal tried to separate himself from the fiasco, noting to CNBC that he was "just a paid spokesperson."

☆ NCAA star Angel Reese says playing at LSU is more lucrative than the WNBA—and she wants to splurge on a Mercedes-Benz
▼ + stars: | 2023-04-11 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

NCAA basketball champion Angel Reese isn't fast-tracking her college career, even if she had the option to go pro. "I'm in no rush to go to the league," Reese, 20, recently told the "I Am Athlete" podcast. That's more than any other college basketball player, the report says. Reese knows exactly what she wants to spend her newly gained fortune on, too: a Mercedes-Benz, she said on the podcast. "My first year [in college], I was just taking money," Reese said.

☆ UFC merger beefs up WWE's leverage in media rights negotiations
▼ + stars: | 2023-04-03 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Networks and streaming services need to get ready for a media rights smackdown. UFC should also benefit ahead of 2025, when its U.S. media rights deals come up, including with Disney's ESPN. "I think everything is up for grabs with these media rights deals. During his time with CAA, he had formed a relationship with McMahon during a recent round of TV rights negotiations for WWE. It will also work for UFC negotiations, he noted.

☆ Global brands look to boost media investment in women's sports through a new partnership, The Women's Sports Club
▼ + stars: | 2023-03-07 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

For four-time Olympian and gold medal-winning ice hockey star Angela Ruggiero, pushing for more media attention and sponsorship dollars for women's sports comes naturally. Today, through her company, the Sports Innovation Lab, she's dedicated to changing that. Ruggiero's Sports Innovation Lab on Tuesday announced a partnership with banking giant Ally to create the Women's Sports Club, a coalition of major brands and media that will work to tackle some of the challenges in buying women's sports inventory and to elevating investment in women's sports. More than 20 global brands that buy and sell sports media and sponsorships are coming together to drive media spending to women's sports. The Women's Sports Club will meet at significant media and sporting events throughout the year, beginning with the South by Southwest event next week in Austin, Texas.

☆ How a new $300 million private equity fund plans to invest and compete in sports media, 'the most valuable last commodity standing'
▼ + stars: | 2023-02-27 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

NBA vet Bobby Sharma and partner Kyle Charters just raised $300 million for sports-related investments. It's led by NBA and IMG vet Bobby Sharma and investment banking vet Kyle Charters, and it just announced it closed a $300 million fund to invest in sports-related media and entertainment. "And there are some sports media, entertainment, business executives who are learning private equities through their fundraising. Sports is "essentially the most valuable last commodity standing in the media landscape," Sharma said. You've got the incumbent media companies that are ensuring their survival by heavily investing as well.

☆ An NBA and IMG veteran breaks down how he raised a $300 million private equity fund in a bleak market and how he plans to invest in all things sports
▼ + stars: | 2023-02-16 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

NBA vet Bobby Sharma and partner Kyle Charters just raised $300 million for sports-related investments. It's led by NBA and IMG vet Bobby Sharma and investment banking vet Kyle Charters and just announced it closed a $300 million fund to invest in sports-related media and entertainment. "And there are some sports media, entertainment, business executives who are learning private equities through their fundraising. There's been a wave of private equity interest in sports by giants like Blackstone to new entrants like Dynasty Equity Partners. You've got the incumbent media companies that are ensuring their survival by heavily investing as well.

☆ Penn's sports betting business posts head-turning fourth quarter profit
▼ + stars: | 2023-02-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

Penn Entertainment on Thursday became the first U.S. gambling company to post a profit in its sports betting business during the final three months of a year. Usually, it's tougher to turn a sportsbook profit during the third and fourth quarters because companies spend more on marketing and promotions during football season. Penn's interactive business, which also includes online casino games, made a $5.2 million profit on $208 million in revenue during the fourth quarter of 2022. Caesars also took a hit from Mattress Mack's baseball bet, which blocked its own ability to turn a profit in sports betting in the fourth quarter, according to results pre-released as a result of a debt refinancing. Still shares declined Thursday, after CEO Jay Snowden, on an earnings call, blamed overall lackluster fourth quarter earnings on bad weather in December.

☆ Former Fox execs conspired to bribe FIFA officials, prosecution witness says
▼ + stars: | 2023-01-18 | by ( Jack Queen | ) www.reuters.com time to read: +2 min

(Reuters) - An Argentine businessman testified on Wednesday that two former 21st Century Fox executives and a sports marketing company conspired with him to bribe South American soccer officials and secure lucrative broadcasting rights. FILE PHOTO: Businessman Alejandro Burzaco (R) of Argentina arrives at the Federal Court in Brooklyn, New York, September 18, 2015. Burzaco said that he, Lopez and Martinez collectively paid up to $32 million in bribes together. Full Play Group paid or committed to pay up to $90 million, he said. Lopez, Martinez and Full Play Group have pleaded not guilty to crimes including wire fraud and money laundering.

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