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Barstool Sports Acquired - Opening Office in Manhattan

Posted on 1/7/16 at 4:14 pm
Posted by gatorhata9
Dallas, TX
Member since Dec 2010
26186 posts
Posted on 1/7/16 at 4:14 pm
LINK

The guys at Barstool held an impromptu presser from Times Square today announcing that they had been acquired by The Chernin Group. Part of the deal is that all the writers would move to Manhattan and they'd all work out of the office together. Pres will still have 100% control of content. All the boys are about to get paid. Bigtime.

Posted by CptBengal
BR Baby
Member since Dec 2007
71661 posts
Posted on 1/7/16 at 4:17 pm to
quote:

All the boys are about to get paid. Bigtime.


not really.

they have already sold off a large portion of their equity before now.

Chernin is just now the majority holder. That's why they are still "working"
Posted by gatorhata9
Dallas, TX
Member since Dec 2010
26186 posts
Posted on 1/7/16 at 4:21 pm to
quote:

they have already sold off a large portion of their equity before now.



That I didn't know

Pres sold for 10-15 million and 51% stake. Wonder what the others (Big Cat and KFC) had in stake?
Posted by CptBengal
BR Baby
Member since Dec 2007
71661 posts
Posted on 1/7/16 at 4:23 pm to
quote:


Pres sold for 10-15 million and 51% stake.


the report I read said they bought a controlling interest...which is not 51%.
Posted by Bluefin
The Banana Stand
Member since Apr 2011
13527 posts
Posted on 1/7/16 at 4:25 pm to
quote:

Part of the deal is that all the writers would move to Manhattan and they'd all work out of the office together.

Interesting. I frequently bump into Nate who covers the DC stuff in Arlington. Awkward guy, he once tried to pick up my girlfriend's roommate at a bar.

He described to her where he worked and she goes "So it's like Deadspin?!" and he quickly yells "NO frick YOU" and walked off.
Posted by gatorhata9
Dallas, TX
Member since Dec 2010
26186 posts
Posted on 1/7/16 at 4:26 pm to
We must be reading different things.

It's all hearsay I think until official numbers come out.

ETA: Pres is doing a reddit AMA tonight at 7 est - at least I think. /r/barstoolsports says he'll be on.
This post was edited on 1/7/16 at 4:52 pm
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