Multiple Sports
RMC Sport parent Altice Media to be sold to CMA CGM in €1.55bn deal
Altice France has today (Friday) announced plans to sell Altice Media, parent of subscription broadcaster RMC Sport, to logistics company CMA CGM Group in a move that seemingly marks the final step in the telco’s move away from premium sports output in the country.
Singtel ‘exploring all options’ on Optus but rules out full sale
Singaporean telco Singtel is considering disposing of a significant stake in its Australian business Optus to a Canadian private equity firm, but plans for a full sale have been vehemently denied by the firm.
Ehrenkranz joins Hirschfeld Marketing Solutions as agency president
Sports marketing veteran Jeff Ehrenkranz has joined Hirschfeld Marketing Solutions as president of the Huntersville, North Carolina-based agency
Reliance tightens grip on Viacom18 after buying out Paramount stake
Indian conglomerate Reliance Industries, chaired and run by business mogul Mukesh Ambani, will buy out Paramount Global’s 13-per-cent stake in media group Viacom18 for $517m (€472m).
Two Circles develops US business with move for digital content agency
US-based digital content agency Let It Fly Media has become the first Two Circles acquisition under the ownership of private equity firm Charterhouse Capital Partners
Matchroom reaffirms investment appeal with £34m profit
Matchroom Sport delivered a profit of £33.8m during the 2022-23 financial reporting period on the back of strong performances from its darts and boxing verticals, SportBusiness has learned.
Adidas global revenues drop 5 per cent after Yeezy split
German sportswear company Adidas suffered a five-per-cent reduction in total revenues in 2023 and posted reduced operating profits of €268m ($293.2m) after severing ties with controversial rapper and fashion designer Kanye West’s Yeezy brand.
ITV profits dive amid ad sales slump, sports content costs down
ITV suffered a 61-per-cent drop in pre-tax profits in 2023 amid an advertising slump and significant investment costs in its ITVX streaming service
Genius’ annual net loss narrows to $86m after revenue jump
Fourth-quarter and full-year net losses at Genius Sports narrowed considerably in 2023 as the data, technology and broadcast services group posted revenues exceeding its initial guidance.
UK Sport eyes Women’s World Cup, no plans for Olympics or Commonwealth Games
UK Sport has published its major event hosting target list for the coming decade, with the Commonwealth Games and Olympics omitted from a list that includes the Fifa Women’s World Cup.
Gazidis to head up MLSE owner Tanenbaum’s new sports investment fund
Ivan Gazidis, the former chief executive of European football clubs Arsenal FC and AC Milan, is back in global sport after being named president of start-up investment fund Kilmer Sports Ventures.
Murdoch outlines 5m subscriber target for sports streaming JV
Fox chief executive Lachlan Murdoch has said that the yet-to-be-named sports streaming joint venture backed by Disney, Fox and Warner Bros. Discovery is planned to reach five million subscribers in its first five years.
Sportradar: AI coming to the fore as match-fixing alerts remain stable
Suspicious betting instances remained steady across world sport in 2023, with the growing role of artificial intelligence able to identify such behaviour, sports data and betting services company Sportradar has revealed.
Diamond to cut ties with Bally’s as part of re-organisation plan
Diamond Sports Group, the owner and operator of 19 regional sports networks (RSNs) in the United States, has submitted its official re-organisation plan to the Houston court overseeing its Chapter 11 bankruptcy…
Paramount+ subs up to 67.5m, total revenue dips 6 per cent
Paramount Global's streaming service Paramount+ added 4.1 million new subscribers in the fourth quarter, raising the platform's total to 67.5 million subscribers at the end of 2023 as the company's overall revenue dipped six per cent year-over-year for the quarter.
Reliance, Disney Star agree $8.5bn India media mega-merger
Disney Star and Reliance Industries, majority owner of Viacom18, today announced the merger of their Indian television and streaming assets, creating an $8.5bn media behemoth.
Diamond Sports refinancing approved, puts NHL, NBA plans at risk
A US bankruptcy court has approved Diamond Sports Group's $495m (€456m) settlement from Sinclair and $450m debtor-in-possession (DIP) financing package, but plans of the National Hockey League and National B…
WWE swells revenues but Endeavor results hit by legal costs, write-offs
Endeavor, the sports and entertainment conglomerate, is continuing to explore "strategic alternatives” for its publicly listed stock, and as a result will provide no 2024 financial guidance it revealed today (Wednesday).