Barstool Sports Gets Another $15 Million From Chernin Group

Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site.

Barstool wants to use the money to hire new staff and double down on revenue from boxing and other pay-per-view events, according to Bloomberg, which was first to report the funding Tuesday.

The new investment puts Barstool’s valuation north of $100 million, according to the report. The Chernin Group acquired a majority stake of the male audience-focused site two years ago. It has invested a total of $25 million in Barstool sports thus far, according to Bloomberg.

The renewed cash infusion comes after a tumultuous 2017 for Baarstool. In October, ESPN pulled the plug on a Barstool podcast after just a single episode over offensive remarks against women made by its hosts. “While we had approval on the content of the show, I erred in assuming we could distance our efforts from the Barstool site and its content,” said ESPN president John Skipper at the time.

In November, SiriusXM showed that it didn’t share ESPN’s concerns by giving Barstool a 24-hour channel on its service.

 

More Digital

  • Netflix Signs Deal with Producer Kim

    Netflix Signs First-Look Deal With Producer Kim Magnusson for Nordic Movies (EXCLUSIVE)

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

  • EMI Music Publishing logo

    Sony to Buy Additional 60% Stake in EMI Music Publishing for $2.3 Billion

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

  • Solo: A Star Wars Story

    ‘Solo: A Star Wars Story’ Tops Studios’ TV Ad Spending

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

  • Mark Zuckerberg Congressional Testimony Media

    How to Watch Facebook CEO Mark Zuckerberg's EU Testimony

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

  • Vernon Sanders Amazon

    Amazon Studios Names NBC Vet Vernon Sanders Co-Head of TV

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

  • Dwayne Johnson & Dany Garcia

    Dwayne Johnson, Dany Garcia Invest in Atom Tickets (EXCLUSIVE)

    Peter Chernin is doubling down on Barstool Sports, despite recent controversies: New York-based Barstool  announced Tuesday that it has received another $15 million from the Chernin Group, which is already the majority owner of the site. Barstool wants to use the money to hire new staff and double down on revenue from boxing and other […]

More From Our Brands

Access exclusive content