The Chernin Group has "acquired three sports betting- and fantasy sports-data sites that will combine to form a new venture called Action Network," according to Chris Kirkham of the WALL STREET JOURNAL. The new platform will be a "subscription service that gives sports bettors access to data and analytical tools, along with articles, podcasts and videos that analyze sports from the perspective of a fan who has money on the line." Chernin Group Chair & CEO Peter Chernin said by focusing on fantasy-sports aficionados and those who wager on games, the new platform will reach those who “by definition are among the most passionate sports fans, and that felt like a potentially very lucrative niche for us.” Chernin Group President of Digital Mike Kerns said that the company's decision to invest in the space "wasn't contingent on any regulatory changes." Kerns said, "We intend to serve the market that exists today. To the extent there are regulatory changes, that would obviously be a positive thing for the Action Network. But it’s not something we are planning on." Chernin Group has "hired Chad Millman, a former digital editorial director at ESPN who also ran ESPN the Magazine, to oversee editorial content on the new product." The deal "brings together Sports Insights, a sports betting analytics site; FantasyLabs, a daily fantasy sports data site in which Mark Cuban has invested; and SportsAction, a live scoring and odds site that targets more casual bettors." The company "bought the edgy controversial sports site Barstool Sports last year, and has also invested" in The Athletic (WSJ.com, 10/3).
