Penske Media Corporation (PMC) announced today its strategic investment into the sports business industry with the launch of Sportico, a high-quality digital content platform providing fair and dynamic sports industry news, data, information, strategies, leadership, insight and live media. The company, whose name Sportico is a portmanteau linking “sport” and “company,” plans to become the global media and publishing leader in the business of sports.
Sportico will leverage PMC’s industry leading infrastructure and best practices for digital publishing, news gathering, research, data, live media and events.
“We are truly excited about becoming the preeminent information destination for the $500 billion sports industry,” said PMC Chairman and CEO Jay Penske. “This launch is consistent with Penske Media Corporation’s long record of success in business to business and consumer publishing ventures. Sports enables us to complement our technology, entertainment, art, music, fashion, media and lifestyle properties.”
Heading the venture as President and CEO will be veteran sports and entertainment executive Dick Glover. Joining Glover will be award-winning sports business reporter Scott Soshnick, who will serve as the platform’s Editor-in-Chief and Head of Content.
Penske added, “There couldn’t be a better team than Dick and Scott to launch Sportico and provide the leadership needed to create a successful digital media business. The strength of PMC’s financial standing allows us to be in perfect position to launch and rapidly expand this new venture at this unique time.”
Glover’s background includes three decades’ experience in senior level positions at global brands such as ESPN, ABC, The Walt Disney Company and Nascar. He was Executive Vice President, Internet and New Media, for Walt Disney managing ABC and ESPN’s Internet businesses including ESPN.com, ABC.com, and ABCNEWS.com. Prior to that, he served as EVP, Content at ESPN, overseeing its domestic programming and rights acquisitions across all ESPN networks and platforms launching and managing ESPN.com and ESPN The Magazine as well as supervising ESPN’s retail, licensing and out of home businesses. In addition, he served as NASCAR’s VP of Broadcasting and New Media, where he collaborated with Judd Apatow, Will Ferrell and Adam McKay to produce the comedy “Talladega Nights.” Glover’s success with start-ups, entertainment and production is highlighted by his recent years as the founding President and CEO of the popular comedy digital platform Funny or Die and President and CEO of Mandalay Sports Media.
“I am honoured to have the opportunity of joining one of the world’s leading digital media and information services company and launch Sportico to the sports business industry,” said Glover. “Having the ability to work side by side with Scott and the Penske team will allow us to create a first-class operation and build a successful business.”
Soshnick, who has spent the past 27 years at Bloomberg News, has established himself as the one of the nation’s leading and most respected sports business reporters. Most recently, he was responsible for spearheading Bloomberg’s sports business coverage and co-hosted a Business of Sports radio show and self-created podcast. During his tenure, Scott has built close relationships with some of the most powerful “players” in the sports industry. In addition to his reporting, Soshnick was intricately involved in the creation and execution of Bloomberg’s power lunch series that featured commissioners, owners, media executives, bankers, attorneys, investors and more. He began his career as an associate producer at WFAN radio in New York.
“It is a privilege to join Dick and the Penske team to launch a dynamic platform like Sportico,” said Soshnick. “With our commitment to hiring the world’s best and most established content creators who will offer first class journalism, unique insight, and breaking news, the product will undoubtedly differentiate itself as a dependable and authoritative sports business news source.”