HomeNewsUSA

Action Network secures further investment

The Action Network, a media start-up that provides analytics and betting content, received a big boost in terms of funding on Thursday – $17.5m (€15m) in Series B funding led by Fertitta Capital.

As part of this investment, Nakisa Bidarian, chief executive of Fertitta Capital, joins the Action Network’s board of directors.

Independent media holding company the Chernin Group, which formed the Action Network in October 2017, also re-invested in the Series B round. In addition, Mike Kerns, president of Chernin Digital, was named the chairman of the company’s board of directors.

“We are thrilled to welcome Fertitta Capital, and this exceptional group of sports, media and technology investors into the fold, as we build the next phase of The Action Network,” said Kerns. “The company’s remarkable growth this last year is a testament to our strong leadership team, and this latest financing will help us expand our audience reach and depth of product offerings for years to come.”

Bloomberg also reports on several owners of American sports franchises investing in the Action Network as the race to establish media companies in the environment where sports gaming is permitted in the United States heats up.