NEW YORK: Penske Media Corporation (PMC) announced Thursday its strategic investment into the sports business sector with the launch of Sportico, a digital content platform providing “sports industry news, data, information, strategies, leadership, insight and live media”.
Sportico – PMC’s first investment in sports – will leverage the US publishing major’s infrastructure for digital publishing, news gathering, research, data, live media and events.
“We are truly excited about becoming the pre-eminent information destination for the $500 billion sports industry,” said PMC chairman and CEO Jay Penske. “This launch is consistent with Penske Media Corporation’s long record of success in business to business and consumer publishing ventures. Sports enables us to complement our technology, entertainment, art, music, fashion, media and lifestyle properties.”
Heading the venture as president and CEO will be Dick Glover. who has had senior roles at ESPN, ABC, Disney and NASCAR. He was founding CEO of the Funny or Die digital comedy platform and CEO of Mandalay Sports Media.
Joining Glover will be veteran sports business journalist Scott Soshnick, who will serve as the platform’s editor-in-chief and head of content. Soshnick, who has spent the past 27 years at Bloomberg News, has been responsible for spearheading Bloomberg’s sports business coverage.
Penske added, “There couldn’t be a better team than Dick and Scott to launch Sportico and provide the leadership needed to create a successful digital media business. The strength of PMC’s financial standing allows us to be in perfect position to launch and rapidly expand this new venture at this unique time.”
For the record, PMC houses globally prominent brands, including Variety, Rolling Stone, Deadline.com, WWD, Robb Report, SHE Media, BGR, IndieWire, Beauty Inc, Sourcing Journal, TVLine, FN, BlogHer, HollywoodLife, Gold Derby, and SPY.
