Finance & Law
US financier Walter makes multi-million investment in PSA’s commercial arm
Mark Walter, the American billionaire with ownership stakes in major international sports teams, has made a multi-million dollar investment in a squash commercial vehicle to accelerate the transformation of the PSA World Tour.
Disney cable revenue falls as ESPN+ subscribers pass 25m
Walt Disney Company has posted a 7-per-cent reduction in linear networks revenue for the most recent quarter due to falls across both domestic and international channels, as ESPN’s streaming service, E…
Sport does not know the origin of its private equity money, SportBusiness report suggests
Sports rights-holders often have little to no idea about the origin of the money they are accepting from private equity funds, a new 90-page SportBusiness report has found.
Sportradar records ‘solid’ start to 2023 as Q1 revenue hits €207.6m
Sports data and betting services company Sportradar has reported revenue of €207.6m ($228.1m) for the first quarter of 2023, a 24-per-cent increase on the same period in 2022.
Endeavor posts record revenue from owned sports unit, to pay first quarterly dividend
Endeavor, owner of the IMG and WME agencies, is to pay a quarterly dividend for the first time, beginning later this year, following a strong start to 2023 for the sports and entertainment giant
Uefa eyes 33-per-cent uplift in club competition revenue from 2024
Giorgio Marchetti, deputy general secretary at Uefa, has revealed that the governing body’s club competition revenue is projected to rise to between €4.6bn ($5bn) and €4.8bn p
Genius Q1 betting uplift compensates for dips in other segments
Data, technology and broadcast services group Genius Sports has posted a year-on-year revenue uplift of 13 per cent for the first quarter, fuelled by a significant increase in income from betting technology,…
European Leagues calls for faster anti-piracy action
Europe’s top football leagues have called on the European Commission to fast-track its action against online piracy, warning its proposed two-and-a-half-year review could exacerbate the illegal exploitation o…
D2C unit in the black but Warner Bros. Discovery posts $1bn Q1 loss
Warner Bros. Discovery Inc today (Friday) posted a first-quarter loss exceeding $1bn (€910m), largely tied to its 2022 mega merger, but did announce a surprise profit for its streaming business.
CVC ‘ends talks’ over Matchroom Sport investment
Private equity firm CVC Capital Partners has reportedly ended talks with Matchroom Sport over the acquisition of a stake in the sports event promotions firm
Seek injunctions but cut prices, EC tells broadcasters in ongoing piracy battle
Rights-holders were today (Thursday) told by the European Commission they should be allowed to secure injunctions against online piracy of live sports events, but they were also urged to cut prices to…
WWE readies India, UK TV rights talks once domestic deals finalised
World Wrestling Entertainment will turn its attentions to securing improved media rights deals in India and the UK once it has concluded its ongoing domestic sales process, chief executive Nick Khan has…
Spanish watchdog opens case against Telefónica over DAZN F1 deal
Telecoms operator Telefónica is facing fresh action from Spain’s competition watchdog, the Comisión Nacional de los Mercados y la Competencia (CNMC), over its sublicensing deal with OTT subscription bro…
Diamond Sports sues Phoenix Suns, Mercury over local streaming venture
The Phoenix Suns of the National Basketball Association and the Phoenix Mercury of the Women's NBA (WNBA) have been sued by Diamond Sports Group after the teams left their regional sports network (RSN)…
KKR ‘out of running’ for DFL media rights subsidiary
KKR & Co., the US private equity firm, has pulled out of the process to become a strategic partner with the German Football League (DFL) in a new media rights subsidiary, according to reports
RMG generates £118m in media and data rights payments
Racecourse Media Group, the holding company responsible for media and data rights for a host of horse-racing destinations, has announced that it generated £117.6m (€133.3m/$147.1m
Comcast revenue dips as Peacock Q1 losses top $700m
US cable giant Comcast's revenue decreased 4.3 per cent year-over-year to $29.7bn (€26.7
Barcelona to close down Barça TV
Spanish LaLiga club FC Barcelona has announced that it will close its in-house television channel, Barça TV.