What Is Barstool Sports? We Explain Here
The Chernin Group and Penn Entertainment are the company’s two major shareholders. David Portnoy founded Barstool Sports in Milton, Massachusetts, in 2003.
In 2003, Barstool launched as a print publication distributed in the Boston metro region. It made its online debut in 2007. AOL made the announcement that they would be airing Barstool Sports’ exclusive web programming in April 2014.
Portnoy originally wrote all of the newspaper’s content on his own, but later on, other independent writers joined.
The Barstool Universe
Barstool Sports is not just a sports news outlet; it’s an entire universe of content and personalities. The brand offers a wide range of content, including:
Blogs: Barstool’s blogs, written by a team of talented and humorous writers, cover everything from the latest sports news to pop culture and viral trends. These blogs are known for their unique and often hilarious takes on current events.
Podcasts: Barstool’s podcast network features a diverse line-up of shows, each hosted by charismatic and knowledgeable personalities. Popular podcasts like “Pardon My Take” and “Call Her Daddy” have garnered massive followings and consistently top the charts.
Video Content: Barstool is also a major player in the world of video content. Their YouTube channel, “Barstool Sports,” boasts millions of subscribers and features a wide array of content, from interviews with athletes to viral challenges.
Social Media: Barstool Sports has a strong presence on social media platforms like Twitter, Instagram, and TikTok, where they engage with their audience through memes, videos, and witty commentary.
TCG Capital Management
TCG has acquired a majority (51%) share in Barstool Sports. Portnoy revealed in an “emergency press conference” at Times Square on January 7, 2016.
TCG is a U.S.-based investment advice company that specialises in private equity investments in the consumer, digital, and sports media.
TCG has reportedly invested $25 million in the website.
On January 29, 2020, it was revealed that Penn National Gaming (now Penn Entertainment) had paid $163 million for a 36% ownership in Barstool Sports, giving the business a $450 million valuation. For a $62 million payment, Penn National, which has a market value of almost $3 billion, would expand its ownership to about 50% in three years.
Penn Entertainment, Inc.
Based on fair market value at the time, Penn National and Barstool had options that would have increased the gambling company’s stake to control or full ownership at that time.
Penn Entertainment announced in August 2022 that it would pay $387 million to buy the remaining shares of Barstool Sports in regulatory filings.
Based in Wyomissing, Pennsylvania, Penn Entertainment, Inc., originally Penn National Gaming, is an American casino and racetrack operator. It runs 43 locations in North America, many of which go by the Hollywood Casino name.
Conclusion
In summary, Barstool Sports is more than just a sports media company; it’s a cultural phenomenon. Its unique blend of humour, sports coverage, and a diverse range of content has captured the hearts of millions. Despite its controversies, Barstool continues to grow and evolve, cementing its place in the world of digital media. Whether you’re a die-hard sports fan or just someone looking for a good laugh, Barstool Sports has something for everyone in its entertaining, informative, and often outrageous universe.