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Maven Purchases The Spun To Pair With Sports Illustrated

Maven has raised over $40 million in capital since they hired a new CEO last fall.

Russ Heltman

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Courtesy: The Spun

Maven is continuing its growth in the digital sports media space. The Sports Illustrated publisher has reached a deal to buy “The Spun,” according to Forbes. The New Jersey-based sports news website is the latest addition to Maven’s arsenal of online brands.

The plan is for “The Spun” to continue operating as normal while eventually being integrated into Sports Illustrated’s online portfolio.

“They’re a really dynamic, independent sports company, and they’ve grown mightily over the last seven years or so,” Maven CEO Ross Levinsohn told Forbes. “A really smart, young, aggressive team, with really terrific leadership, and we couldn’t be more excited. Their numbers are terrific, and it’s a great complement to Sports Illustrated for us.”

Levinsohn and Maven have spent the majority of their time raising $40 million in capital since he was installed as CEO last fall. Now they are ready to spend, with “The Spun” acting as their first target.

“We have some pretty big ambitions,” Levinsohn said. “And this is sort of our first at-bat at growth since I took over the company about nine months ago.”

“The Spun” is retaining their 11-employee team, along with a new role for co-founder Matt Lombardi as Vice President/General Manager of Growth for Sports at Maven. Lombardi started the site in 2012 and has grown it into a prominent home for the intersection of sports and social media.

“We really look for assets that can fit into and expand an existing vertical for us, or start a new one,” Levinsohn said. “In ‘The Spun’ we saw something that would be additive and incremental to our sports vertical, which is anchored by the halo brand of Sports Illustrated. It’s the most trusted brand name in sports, it’s revered, it’s got an incredible history, and its audience is amazingly loyal — with still north of 1.7 million paying print subscribers today.”

Maven asserted themselves as a serious player in the industry when they acquired Sports Illustrated. Now they are carrying that momentum onto another step in the growth ladder.

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Dan Le Batard on Sports Betting and Journalism: ‘We’re All in This Changing Game’

“…the integrity of the results have to be something you trust.”

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Dan Le Batard
Courtesy: Jason Koerner, Getty Images

As sports betting continues to assimilate itself into the sports media space, questions surrounding the ethics around gambling for media professionals are continuing to be asked. League insiders such as Adrian Wojnarowski, Shams Charania and Adam Schefter are privy to information before it is released to the public, wherefore their decisions would not be seen as objective per se; that is, according to on-air host Dan Le Batard.

On Thursday’s edition of The Dan Le Batard Show with Stugotz, Le Batard began a discussion about the relationship between gambling and journalism. As a former member of ESPN, Le Batard has seen the launch of ESPN BET, a company-branded betting platform being operated by PENN Entertainment in 17 different states around the country.

Mandating that a large swath of people cannot bet on sporting events can be difficult to enforce because some people are more apt to break rules and engage in the practices regardless. For example, news of LeBron James’ business manager, Maverick Carter, admitting to using an illegal bookie to bet on basketball and football games in a federal investigation in 2021 was reported last week by The Washington Post.

“The integrity of the results – even though we’re talking about the refs every day and they have a disproportionate impact on the games – the integrity of the results have to be something you trust,” Dan Le Batard said. “Ultimately – and this is weird for gambling to have been in the shadows and illegal and shamed for a long time – you have to trust that nobody has insider information that’s illegal to have gathered, and so you have to spread a blanket around a lot of employees.”

Jeremy Tache added to the conversation, saying that an interesting aspect related to the entire ordeal is how Wojnarowski and Charania do not share social media posts affirming that a player is about to be selected in the NBA Draft. Instead, they use more vague, ambiguous language that implies that the pick is likely, but far from a guarantee.

Charania moved betting lines last year when he posted on Twitter that Scoot Henderson was “gaining serious momentum” at No. 2 with the Charlotte Hornets in the NBA Draft. In the end, the Hornets drafted Brandon Miller, allowing the Portland Trail Blazers to take Henderson third overall. “FanDuel is not privy to any news that Shams breaks on his platforms,” the company said in a statement to Action Network after backlash.

“That ultimately can heavily influence the way that people are gambling because the lines don’t change instantly on who’s going to go to what time,” Tache said. “That’s the stuff where we saw ESPN sort of institute, ‘Hey Woj, you can’t tweet out draft picks before they’re actually made,’ but I wonder how much that actually had to do with gambling more so than even spoiling the draft for people.”

The reason Le Batard started the conversation was because of Meadowlark Media’s content and distribution deal with DraftKings Network. Matt Barnes’ and Stephen Jackson’s All The Smoke Productions recently inked a contract with the two entities as well, bringing their popular podcast, All The Smoke, and other programming to the platform. Le Batard’s program is also now available to watch using the new Bleacher Report Sports Add-On through Warner Bros. Discovery’s Max streaming service.

“There are so many impeachments on integrity that can come from so many angles,” Le Batard said. “Never mind just referees; it’s everybody now. We’re all in this changing game [where] something that has been stigmatized is now legalized, and we all play by a set of rules that are different for me [and] that are different for you.”

Mike Ryan Ruiz, producer of the program, argued that regulation pertaining to sports gambling is a good thing, conveying how several leagues themselves have demarcated the behavior. The NFL has issued suspensions to players for gambling, along with college football – perhaps most noticeably surrounding the Iowa and Iowa State sports betting scandal. The action of wagering on games has seamlessly assimilated into a penchant for sports fans, and more advertising and convenience projects the industry to further boost these companies.

Determining how to keep the objectivity of journalism and subjectivity of wagering disparate is an ostensible reason why employees at media outlets are limited in these practices. Moreover, Dan Le Batard insinuated that an athlete could do a friend favors by prioritizing how they play for monetary gain, something Ruiz pointed out has been happening all over Europe and that the sports world is dealing with.

“Yes, it’s more accessible now, but gambling scandals are as old as sports are – be it Black Sox; be it Pete Rose,” Ruiz said. “This is something that sports have always had to navigate, and it’s actually easier now with their league partners playing ball with them.”

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New Sports Illustrated Owner to Staffers: ‘No One is Important’

“I am not important…. The amount of useless stuff you guys do is staggering.”

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Manoj Bhargava
Courtesy: Bizuayehu Tesfaye, Las Vegas Review-Journal

Following reports of artificial intelligence writing articles for Sports Illustrated and posting them under human pseudonyms, there have been changes pertaining to the executive leadership of its parent company. The Arena Group’s chief operating officer Andrew Kraft and president of media Rob Barrett have been fired, which took place before a conference call with company staff on Wednesday afternoon.

According to Michael McCarthy and A.J. Perez of Front Office Sports, the protracted conversation lasted more than 90 minutes and featured majority owner Manoj Bhargava, who also owns 5-hour Energy. Sources told Front Office Sports that the departures of Kraft and Barrett, however, were unrelated to the AI report from Futurism.

Throughout the call, Bhargava emphasized that he has control over Sports Illustrated and other outlets owned by The Arena Group. This came after the Sports Illustrated Union released a statement that conveyed how writers were “horrified” by the Futurism article and demanded “answers and transparency” from its parent company.

The Arena Group laid off 17 employees earlier in the year as Sports Illustrated looks to solidify a transition from print to digital media, which included a 21% growth in the sector within its third quarter earnings report. Moreover, the company’s sports properties reached the No. 2 sport in the Comscore sports properties rankings on the quarter, something it called “a milestone achievement for the brand.” It was concurrent with a 600,000-follower increase on social media during the quarter as well. Nonetheless, comments from Bhargava revealed his thoughts on the publication, which included a plea for employees to “stop doing dumb stuff.”

“No one is important,” Bhargava said to staffers, according to what a source told Front Office Sports. “I am not important…. The amount of useless stuff you guys do is staggering.”

After the meeting, The Arena Group provided a statement to Front Office Sports about what transpired and the nature of Bhargava’s involvement in the discussion. Furthermore, the source stated that no mention of the Futurism article was made over the course of the meeting.

“Today, Manoj [Bhargava] conducted a virtual town hall and spoke with the staff of The Arena Group, and took questions,” The Arena Group said in a statement. “Also today, some adjustments to the business have been made to improve the efficiency and revenue, and also some changes to senior management have been made.”

Bhargava, under his venture capital company Simplify Inventions, purchased a 65% stake in The Arena Group for $50 million, along with a five-year, $65 million advertising pact. The Arena Group was previously known as TheMaven, Inc., and consists of more than 265 media brands within the categories of lifestyle, finance and sports. As part of the deal, Bridge Media Networks, a Simplify Inventions subsidiary, was also added under The Arena Group portfolio, and Simplify Inventions also received $25 million of preferred stock in the Sports Illustrated parent company.

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Sports Media Reacts to Joe Castiglione Winning 2024 Frick Award

Castiglione’s colleagues and contemporaries were more than complementary when finding out he took home the award.

Jordan Bondurant

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A photo of Joe Castiglione
(Photo: Getty Images)

Longtime Boston Red Sox radio announcer Joe Castiglione was announced Wednesday as the 2024 Ford C. Frick Award winner given by the Baseball Hall of Fame.

The 76-year-old Castiglione has been the voice of the Red Sox since 1983, calling all four of the team’s modern-era World Series victories.

Several across sports media offered their reactions and congratulations to an MLB broadcasting legend.

Even University of Oklahoma Director of Athletics Joe Castiglione had to make sure he congratulated his good friend with the same name.

Joe will be honored during Hall of Fame induction weekend in Cooperstown in July.

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