Finance & Law
ATP Media revenues breach $200m
ATP Media registered revenues of $202.9m in 2023 and a profit of $4m, SportBusiness understands, thanks in part to the aggregation of ATP 250 rights and the return of the Shanghai Masters for the first time since 2019.
Recast’s $5m raise includes VC fund, Woodward-backed Airstream Ventures
Recast, the Edinburgh-based digital media technology company rescued from administration nine months ago after amassing significant losses, has closed a $5m funding round led by US-based venture capital firm Morpheus Ventures.
Skydance finally agrees Paramount merger
After almost a year of negotiations with prospective buyers, Paramount Global has reached a deal with Skydance Media to form ‘New Paramount’ in an agreement that places the enterprise value of the merged entity at $28bn.
Anti-siphoning bill passes but streaming ‘loophole’ still under scrutiny
The Australian government has today (Thursday) passed a bill, first introduced in November following a lengthy review, designed to bolster its listed events legislation, though it still faces criticism…
TKO buys into EverPass as NFL Sunday Ticket streamed in bars
The National Football League's domestic out-of-market Sunday Ticket package will be able to be streamed in US commercial businesses for the first time, after EverPass Media, the media platform of the NFL…
Barcelona terminates Mountain deal, drops plans to list media arm
Barcelona has terminated an agreement with Mountain & Co, a special purpose acquisition vehicle tasked with handling the Nasdaq flotation of the LaLiga club’s Barça Media business, to focus on “near-term” business opportunities.
NFL to appeal $4.8bn Sunday Ticket class action verdict
The National Football League has said it will contest the verdict of a class action lawsuit that has ordered the league to pay $4.8bn (€4.48bn) to subscribers of the league’s domestic out-of-market broadcast package, NFL Sunday Ticket.
Record rise in European football revenues to €35bn
The European football market grew revenue by 16 per cent in the 2022-23 season to a new high of €35.3bn ($37.8bn), with record matchday and commercial incomes helping to offset a levelling-off of broadcast fees.
Investment round values TMRW Sports at $500m
TMRW Sports’ Series A investment round unveiled today (Monday) values the sports technology company behind the TGL golf league at around $500m (€456m).
Italy’s financial crime unit blocks rampant illegal Euro 2024 streams
An anti-piracy operation in Italy has shut down platforms that were illegally streaming matches from the ongoing Uefa Euro 2024 to more than 1.3 million users.
ÖSV prepares FIS centralisation case over ‘seven-figure’ damage
The Austrian Ski Federation claims to be facing seven-figure damages as it readies legal action over the process by which media rights centralisation was voted through by the International Ski and Snowboard Federation (FIS) council.
Mediapro to exit Canadian football by year-end in CSB settlement
Canadian Soccer Business (CSB) and the Mediapro Canada agency have claimed an end to their legal dispute that left the future of the Canadian Premier League hanging in the balance.
Diamond wants emergency hearing as major leagues demand to see TV contracts
Diamond Sports Group, the owner and operator of 19 regional sports networks (RSN) in the United States, has asked the federal bankruptcy court in Texas overseeing its case to hold an emergency hearing…
Liberty Global buys out WBD’s shares to take control of Formula E
Liberty Global has taken a controlling stake in Formula E, after acquiring shares in the electric motor racing series held by media company Warner Bros. Discovery (WBD)
WBD sells back majority stake in Play Sports Network
Warner Bros. Discovery’s five-year ownership of cycling media company Play Sports Network has come to an end as the media giant continues to reshape its digital operations.
Studhalter US sanctions list removal affords Highlight ‘legal certainty’
Highlight Communications, the parent company of the Team Marketing agency, has been delivered a boost with the removal of major investor Alexander Studhalter from the US Office of Foreign Assets sanctions…
DAZN court victory ‘first of many to come’ as Belgium begins piracy clampdown
A major breakthrough has occurred in Belgium in the fight against piracy in what could have implications for the value of the Pro League's next domestic media rights, ahead of a tender to be issued later this year.
Deferred income from FMA termination helps AFC surpass $200m media rights total
Broadcast rights revenue at the Asian Football Confederation totalled $206.1m (€190m) in 2023 but with 69 per cent of the figure stemming from deferred income related to the termination of an agency agreement with Football Marketing Asia (FMA).