Finance

Giants minority stake for sale, values team at $4B

Morning Buzz - 04/26/2024

A small stake in the S.F. Giants is for sale "at a price that could value the team" at about $4B, according to sources. The MLB team is owned by around 30 partners, and the stake up for sale is "less than 5% and related to estate planning." Minority...

Peacock adds subscribers, sees losses narrow in Q1

Closing Bell - 04/25/2024

Comcast's flagship streaming service Peacock added 3 million subscribers in Q1 of FY24, while revenue at the platform increased 54% year over year to $1.1B. Losses at the streamer "narrowed" to $639M compared to a loss of $704M in the prior-year period. The company previously said 2023 would be...

Magnus Carlsen invests in tech-enabled soccer experience company Toca Football

Chess grandmaster Magnus Carlsen, the highest-rated player in history, has invested in Toca Football. The Norwegian Carlsen is an avid soccer fan who in 2019 ranked first out of more than seven million participants in the Fantasy Premier League, quipping to The Guardian that, “In fantasy football,...

Drone Racing League acquired by Infinite Reality

Morning Buzz - 04/23/2024

AI technology firm Infinite Reality has signed a definitive agreement to acquire the Drone Racing League for $250M. The acquisition bolsters Infinite Reality's capabilities and IP, and boosts its valuation to $3.5B. The DRL deal marks Infinite Reality's latest acquisition to a portfolio that includes spatial web design firm...

Range Media unveils growth capital funding round

Unpacks Newsletter - 04/23/2024 | Morning Buzz - 04/23/2024

Range Media Partners will today announce a new growth capital investment round led by Forest Road Asset Management with investments from telecom giant Liberty Global and David Bonderman ’s Wildcat Capital Management, among others. Financial details of the transaction were not available. The company previously...

JD Sports continues U.S. growth in Hibbett acquisition

Daily - 04/23/2024

JD Sports Fashion is buying Hibbett in a deal that values the American retailer at $1.08B, “doubling down on its push into the U.S.,” according to Elena Vardon of the WALL STREET JOURNAL. The U.K. company said that its acquisition of Birmingham, Ala.-based Hibbett “accelerates its growth plans...

Michael Johnson secures funds for new track league

Morning Buzz - 04/23/2024 | Unpacks Newsletter - 04/23/2024

Olympic champion Michael Johnson has secured more than $30M from investors and strategic partners for a track league he plans to launch next year . Winners Alliance, the for-profit arm of the Professional Tennis Players Association, was the lead investor and will be...

DivInc selects 10 startups for their 2024 Sports Tech Accelerator cohort

Power Up Newsletter - 04/23/2024

DivInc, a nonprofit focused on aiding the growth of diverse founders, began its 2024 Sports Tech Accelerator with a cohort of 10 companies on Monday. The Houston-based, 12-week hybrid program includes Underdog Venture Team, The Collectiv and HTX Sports Tech as strategic partners. This year’s batch...

Inter Milan owner nearing loan to retain control

Morning Buzz - 04/22/2024

Serie A club Inter Milan is "negotiating a new loan" that could be worth $426M with U.S. fund Pimco as club Chair Steven Zhang is "looking to refinance" an existing $293M credit with Oaktree that comes due next month. An agreement with Pimco "would give the team’s...

Nike gives notice of upcoming layoffs at Oregon HQ

Weekend Rap - 04/21/2024

Nike in a notice to government officials on Friday said that it “expects to part with 740 Oregon workers, all at its Washington County headquarters." The filing came as the “second wave of a mass layoff" which started with a first wave of layoffs in February. The latest round...

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Finance

Giants minority stake for sale, values team at $4B

Peacock adds subscribers, sees losses narrow in Q1

Magnus Carlsen invests in tech-enabled soccer experience company Toca Football

Drone Racing League acquired by Infinite Reality

Range Media unveils growth capital funding round

JD Sports continues U.S. growth in Hibbett acquisition

Michael Johnson secures funds for new track league

DivInc selects 10 startups for their 2024 Sports Tech Accelerator cohort

Inter Milan owner nearing loan to retain control

Nike gives notice of upcoming layoffs at Oregon HQ

SBJ Morning Buzzcast: April 26, 2024

TNT’s Stan Van Gundy, ESPN’s Tim Reed, NBA Playoffs and NFL Draft

SBJ I Factor: Molly Mazzolini

Sports Media Podcast April 24 Whos Up Whos Down

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