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Fox Corp. acquires Clay Travis’s OutKick in sports betting play
Posted on 5/5/21 at 5:09 pm
Posted on 5/5/21 at 5:09 pm
quote:
Fox Corporation is acquiring Outkick, the sports and pop culture media platform, founded by Clay Travis.
"Outkick is a natural complement to several of our brands and will deepen our investment in the sports wagering ecosystem," said CEO Lachlan Murdoch during the investor call following the company's quarterly earnings.
"Importantly, Outkick also creates content on sports wagering and currently has an exclusive marketing arrangement with FanDuel that has proven remarkably successful" he added.
Outkick will be run as an independent brand and will be weaved across Fox's existing platforms. Travis, whose sports radio show reaches more than 10 million monthly listeners, will serve as Outkick's president.
"Outkick has grown out of my passion for producing bold, well-informed, and entertaining content about sports, current events and more recently, sports wagering. With the power of FOX behind us, we look forward to maintaining Outkick’s unwavering commitment to that mission" said Travis in a statement.
LINK
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Posted on 5/5/21 at 5:11 pm to jatilen
Clay got paid but now he can’t brag about being his own boss and un-firable.
Posted on 5/5/21 at 5:13 pm to jatilen
I'm a little confused. Wasn't his show already on Fox Sports Radio? Whatever the situation, it is interesting these guys are sort of merging with the big gambling corporations. I could see that with Clay. I never expected it with LeBatard.
Posted on 5/5/21 at 5:17 pm to Bunk Moreland
Clay's show was basically just simulcast on Fox radio, but he owned the show. Now it seems, Fox owns the show and Clay is now their employee/partner.
No matter what, this has been Travis' goal for a while. Good for him. He's probably Portnoy/Bill Simmons Rich now.
In saying that he can also be fired now, unless there's some iron clad contract language in there where they can't fire him for his "controversial" content.
No matter what, this has been Travis' goal for a while. Good for him. He's probably Portnoy/Bill Simmons Rich now.
In saying that he can also be fired now, unless there's some iron clad contract language in there where they can't fire him for his "controversial" content.
Posted on 5/5/21 at 5:20 pm to Jack Ruby
quote:
He's probably Portnoy/Bill Simmons Rich now.
Not even in the same state, much less zip code
Posted on 5/5/21 at 5:22 pm to Mingo Was His NameO
If Lebetard got a reported $50 million, I'd have to think Travis got more than that, plus stock options (fanduel is not public yet, but Fox obviously is through Newscorp). What did Portnoy get, around $100 million?
I'd assume Travis will get close to that, but I could be wrong.
I'd assume Travis will get close to that, but I could be wrong.
Posted on 5/5/21 at 5:27 pm to Jack Ruby
quote:
What did Portnoy get, around $100 million?
Portnoy got over $100 million. Barstool got like $550 million.
The LeBetard show got $50 million, how much he got, we don't really know.
Posted on 5/5/21 at 5:37 pm to jatilen
frick yea
Happy for Clay!
Happy for Clay!
Posted on 5/5/21 at 5:52 pm to jatilen
Buy it to control it
Posted on 5/5/21 at 6:02 pm to udtiger
Yep, the site will get a more sanitized and mainstream, but Fox is probably doing this to be an accompaniment to Fox News, so they may let some stuff still go through.
I also expect them to go full bore against Barstool now and hire 20+ new content creators to churn out podcasts and blogs.
I also expect them to go full bore against Barstool now and hire 20+ new content creators to churn out podcasts and blogs.
Posted on 5/5/21 at 6:05 pm to jatilen
Clay talked so much shite to portnoy and big cat about selling out and turns around and does the same thing, only for less money.Posted on 5/5/21 at 6:10 pm to Jack Ruby
quote:
If Lebetard got a reported $50 million, I'd have to think Travis got more than that, plus stock options (fanduel is not public yet, but Fox obviously is through Newscorp). What did Portnoy get, around $100 million?
I doubt Clay got Lebetard money. I don't like Lebetard, but he has a much larger audience and partnered directly with fan duel/draft kings (idk which one).
Also I don't believe those numbers Clay is reporting. He notoriously fudges his numbers by producing multiple "podcasts"/shows a day where each one is 20 minutes instead of just doing an hour long episode so he can count unique listeners from each "episode".
ETA: i got downvoted alot on this, but if you go look at his podcast feed, he has "hour 1", "hour 2", and "hour 3" listed as three different podcasts. If that doesn't show that he's manipulating numbers, I don't know what does
This post was edited on 5/6/21 at 11:39 am
Posted on 5/5/21 at 6:18 pm to PP7 for heisman
This article is from May 3, 2020
quote:
Clay Travis is expanding Outkick the Coverage, the site founded in 2011 by the television and radio personality...
That will include expanding beyond Travis as well, with a goal to hire five to 10 staffers. Recently, the site hired Ryan Glasspiegel, Bobby Burack, and Michael Shamburger from sports news blog The Big Lead....
With that expansion, Travis has big aspirations for Outkick in light of recent sports media acquisitions.
Casino operator Penn National Gaming acquired 36% of Dave Portnoy’s Barstool Sports for $163 million, plus the right to become Barstool’s exclusive gaming partner. At the time of the Penn deal, Barstool said it generated nearly $100 million in annual revenue from events, ecommerce, digital and audio advertising, licensing and subscriptions. The site also has a devoted following with an active interest in gambling. Meanwhile, Bill Simmons sold The Ringer and its growing network of nearly 40 podcast titles to Spotify for $200 million. Ringer podcasts generate over 100 million downloads a month....
Travis owns 100% of Outkick, which he said is profitable, and is financing the new hires out of pocket. He’s also open to an equity investment into the company.
Posted on 5/5/21 at 6:25 pm to Jack Ruby
quote:
If Lebetard got a reported $50 million, I'd have to think Travis got more than that
What would make you think that
Posted on 5/5/21 at 6:31 pm to TigerintheNO
Damn I bet Jason Whitlock wishes he didn’t leave now.
Posted on 5/5/21 at 6:45 pm to TigerintheNO
yeah barstool is probably worth closer to 800 or 900 million dollars now. I always hear them refer to it as a 4 billion dollar company but I don't believe that to be true.
The biggest difference in their sales and outkick sales is that outkick (i believe) sold outright, whereas Portnoy and a few others still owen around 30% of the company and have crazy stock options.
The biggest difference in their sales and outkick sales is that outkick (i believe) sold outright, whereas Portnoy and a few others still owen around 30% of the company and have crazy stock options.
Posted on 5/5/21 at 9:51 pm to jatilen
Clay was down to 8% equity in the company prior to the sale according to one of my friends in Nashville who he approached about investing about six months ago. Things got really messy around the Whitlock thing and that created a lot of issues. He was down to 33% equity as of last summer and has apparently sold 25% of that since then.
He has made a bit of a mess of things on the business side with giving away so much equity and then in turn taking on a good bit of venture debt.
I’m sure he got a big pay day but I don’t think he’s anywhere near Simmons/Lebatard/Portnoy because of how diluted he became.
He has made a bit of a mess of things on the business side with giving away so much equity and then in turn taking on a good bit of venture debt.
I’m sure he got a big pay day but I don’t think he’s anywhere near Simmons/Lebatard/Portnoy because of how diluted he became.
This post was edited on 5/5/21 at 9:53 pm
Posted on 5/5/21 at 10:46 pm to volfan30
quote:
Clay was down to 8% equity in the company prior to the sale according to one of my friends in Nashville who he approached about investing about six months ago.
Sounds like this isn't right but he's also not the sole owner
quote:
Nashville, TN-based Outkick Media is jointly owned by Travis and Savage Ventures, and the latter will continue having an operational role after the deal closes.
Posted on 5/5/21 at 10:53 pm to Mingo Was His NameO
If he was down to that little equity, he’ll basically be able to take his payday here and whenever the terms of the buyout are full filled, walk away w/ his audience wherever he wants. That audience is the valuable asset here and he’s the sole driver of that.
I like Clay and listen all the time, but I’ve probably been to Outkick’s website a handful of times maybe.
Fox will have to pony up a large enough salary to keep Clay after the dust settles or they basically bought fools gold.
I like Clay and listen all the time, but I’ve probably been to Outkick’s website a handful of times maybe.
Fox will have to pony up a large enough salary to keep Clay after the dust settles or they basically bought fools gold.
This post was edited on 5/5/21 at 10:55 pm
Posted on 5/5/21 at 11:50 pm to jatilen
Love Clay - dude is MAGA AF and has absolutely had it with left wing idiocy in sport
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