Continuing to build its brand in the digital marketplace, the Chernin Group has acquired a 51% stake in the website Barstool Sports, sources confirm to Variety.
Barstool Sports, a comedy, sports and lifestyle media content brand started in 2004 by David Portnoy, has become one of the fastest growing sports websites in the past decade by delivering popular text, video and podcast content across its website, app and social platforms.
The acquisition was overseen by Mike Kerns, Chernin’s president of digital. The acquisition of the leading comedy brand expands and diversifies TCG’s digital media oortfolio. Portnoy made the announcement in one of his famous “emergency press conferences” along with three of his fellow writers in the middle of Times Square. He also announced that their new headquarters would be based in New York.
Kerns and TCG President Jesse Jacobs will join Barstool’s board of directors. “El Pres,” as Portnoy is known, will also continue to be on the board.
Barstool Sports has made its mark among a young male-skewing demographic and a very engaged audience across all digital platforms. Its reach is attributed to its editorial tone, which aims to be similar to the way people speak while seated on literal barstools.
The site offers various commentary on sports and entertainment including a rundown show that covers the hot topics of the day, which gained popularity during the Deflategate controversy. The site strongly stood by New England Patriots quarterback Tom Brady as he was under investigation for deflating footballs during a playoff game.
The partnership between TCG and Barstool Sports will seek to expand the Barstool Sports team, produce more content and upgrade the company’s technology and studio facilities.
