Ron Bension was named CEO of Sportnet last week, giving the digital sports network owned by Wasserman Media Group the leadership of a high-profile executive with extensive business connections.
Sportnet’s former CEO, Luke McDonough, will remain on staff in an executive role.
Bension, the former CEO of Tickets.com and Sega GameWorks, will be charged with strengthening Sportnet’s position as an online provider of action, Olympic and amateur sports content.
“We are focused on building the most relevant and valuable sites across a variety of vertically integrated sport-specific sites,” said WMG Chairman and CEO Casey Wasserman. “Ron Bension, as the leader of a team of highly talented executives, is the right person to execute and deliver that plan to the millions of fans, participants and enthusiasts who visit Sportnet sites every month.”
“I like to think of Sportnet being in jog mode,” Bension said. “It’s going to be my job to take them into full sprint and run mode. That’s what I do. I’ve worked for companies that are young and youthful and grown them.”
Late last year, SportsBusiness Journal reported that WMG executives met with several media companies to gauge their interest in investing in Sportnet. WMG remains open to strategic partnerships that support Sportnet’s marketing, operation and distribution efforts, but industry sources say with Bension on board the focus will be on expanding the business.
Bension was hired by Tickets.com in 2001. During his four years there, he raised new capital, acquired 11 companies and increased revenue to $70 million annually. He oversaw the sale of the company to Major League Baseball in 2005 for $66 million.
Prior to that, he served for two years as president and CEO of Sega GameWorks, where he was credited with increasing same-store sales by 10 percent and revenue by $10 million.
Bension joins Sportnet at a busy time. The network plans to launch sites for USA Gymnastics, USA Swimming and USA Track & Field over the next 60 days as part of a deal signed last year to develop a digital platform for each national governing body.
“For us, they’re marquees,” Bension said. “They provide us with a tremendous amount of credibility in the marketplace.”
