Penn National To Acquire Barstool Sports In Full
“Bloomberg reports that the two step process will be completed by February.”
Penn National Gaming made its initial investment in Barstool Sports in 2020, paying $161.2 million for a 36% stake in the content factory. Just a few years later, the casino company will acquire the remaining shares.
The relationship with Barstool has had ups and downs for Penn National.
A Business Insider report dropped in December accusing Barstool founder Dave Portnoy of sexual misconduct with multiple women caused serious headaches for Penn National. Portnoy denied any wrongdoing, saying all of the incidents detailed in the piece were consensual. He has also filed a defamation suit against the publisher.
Jay Snowden, the company’s CEO, encouraged investors to be patient. That didn’t stop the reaction though. Penn National lost over $2.5 billion in value and drew the attention of regulatory boards in Nevada and Indiana.
Still, the relationship with Barstool is one the casino company wants to keep. The company has found value in using the brand’s name to attract a younger audience to its sportsbooks. The Barstool name has been used on other venues and products inside of Penn National’s casinos as well.
Barstool podcasts and videos give Penn National a valuable, proprietary means of advertising. Plus, the Barstool Sports Arizona Bowl and the Barstool Classic in Philadelphia, put Penn National in the live sports business.
Penn National has an option to acquire the rest of Barstool for another $387 million. Bloomberg reports that the two step process will be completed by February.
Dan Le Batard: ‘Does Sports Media Care if Interviews Are Done Well?’
“An exclusive interview with Ja Morant, who hasn’t talked to anybody after his controversy, is going to get eyeballs, so it doesn’t matter how good it actually is.”
Mike Greenberg had praise for Jalen Rose this week. He said that no one but his ESPN colleague could have handled the interview with Ja Morant that has been airing on the network. Dan Le Batard has the exact opposite opinion of what he saw.
“What I saw was soft and didn’t seem to serve anybody except ESPN,” Le Batard said on his Thursday show. “This seems to be a lot of people around the economy of basketball and Ja Morant orchestrating an interview so Ja Morant can move onto the next stage of his branding.”
Whereas Greenberg thought the shared experience of an NBA career made Rose more likely to get answers from Morant, Le Batard said it created a problem. He accused Rose of letting Morant get away with using “talking points” in lieu of answering any actual questions about the string of erratic behavior and disturbing incidents the Memphis Grizzlies star has been involved with.
It wasn’t the only interview that Dan Le Batard pointed to. He noted that Pat McAfee’s interview with Aaron Rodgers may have drawn an audience of nearly half a million, but very little substance was offered.
“Does anybody in the audience, in sports fandom, or even, at this point, in sports media companies, care in a real and legitimate way whether the interview is done well or not?”
He added that the standard has changed for these interviews because the goal has changed. They are no longer about journalism as much as they are about branding, particularly in the case of ESPN’s exclusive interview with Ja Morant.
“An exclusive interview with Ja Morant, who hasn’t talked to anybody after his controversy, is going to get eyeballs, so it doesn’t matter how good it actually is,” Le Batard concluded. “All you need, if you’re the media partner, is please get me the famous guy to sit down.”
Jomboy, Aaron Boone Partner For Weekly Podcast Appearance
“I thought it was a really interesting opportunity, and a cool idea. These guys have been innovators in this business and they’ve built a massive, young following.”
It isn’t unusual for a professional sports team to partner with a local radio station for weekly interviews with team personnel. Even though Jomboy Media is a digital outlet, it didn’t stop the company from inking a deal to have Yankees manager Aaron Boone on one of its signature podcasts.
In a move announced Thursday, Jomboy Media has signed a deal for Boone to appear on its popular Talkin’ Yanks podcast — hosted by founder Jimmy O’Brien and Jake Storiale — once a week throughout the baseball season.
“I thought it was a really interesting opportunity, and a cool idea. These guys have been innovators in this business and they’ve built a massive, young following,” Boone told The New York Post. “I think Jimmy and Jake are both really good guys. And they’re passionate about what they do, and they love the Yankees. And, sometimes they’re a little misguided and it’s my chance to set the record straight every now and then.”
Previously, Boone had a weekly spot on 98.7 ESPN New York’s The Michael Kay Show, which reportedly paid him six figures.
“It’s going to be really fun and it kind of goes with the changing landscape of media,” O’Brien said. “The fact that two fans can create a show and in five years get to the point where they get to ask questions to the manager of the Yankees and bring whatever insight we can get out of that to our audience — it is pretty wild, a little surreal.”
Sports Media Reacts to Aaron Rodgers Telling Adam Schefter ‘Lose My Number’
“Here are some of the best responses from Schefter’s sports media colleagues to the tweet.”
Quarterback Aaron Rodgers appeared on The Pat McAfee Show on Wednesday and revealed that if he gets his way, his time with the Green Bay Packers is done. He intends to play for the New York Jets in 2023.
Rodgers told McAfee that the hang-up lies with Green Bay, which is trying to determine the appropriate compensation for trading for a first-ballot Hall of Famer.
Rodgers also revealed that he had an interaction with ESPN NFL insider Adam Schefter. Schefter, who was obviously digging as much as he could to get the scoop on what was going on with Rodgers’ future, texted Rodgers trying to confirm the information he had.
“I didn’t respond to Dianna Russini I think her name is,” Rodgers said. “But I would say the same thing that I told Schefty. Lose my number. Nice try.”
Upon hearing Rodgers’ account, Schefter followed up with a screenshot of Rodgers responding exactly how he said, and that sent social media into a whirlwind.
Here are some of the best responses from Schefter’s sports media colleagues to the tweet:
Jordan Bondurant is a features reporter for Barrett Sports Media. He’s a multimedia journalist and communicator who works at the Virginia State Corporation Commission in Richmond. Jordan also contributes occasional coverage of the Washington Capitals for the blog NoVa Caps. His prior media experiences include working for the Richmond Times-Dispatch, the Danville Register & Bee, Virginia Lawyers Weekly, WRIC-TV 8News and Audacy Richmond. He can be reached by email at firstname.lastname@example.org or follow him on Twitter @J__Bondurant.
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