Players' Tribune Sold To Minute Media For Undisclosed Amount
The Players' Tribune "has been acquired" by Minute Media, an Israel-based digital publishing platform that "operates a network of sports-media sites around the world," according to Lukas Alpert of the WALL STREET JOURNAL. Terms of the deal were not disclosed. Derek Jeter founded the site in '14 shortly after he retired from MLB as a "platform for athletes to tell their stories." It is "one of several business ventures he has become involved in" since his on-field career ended. The Players' Tribune has "raised a total" of $58M in venture funding. It has "struggled to build a consistent audience, however, in a crowded sports-media landscape." Jeter, who has "remained involved in the business in an advisory role," will now join Minute Media's BOD. Minute Media has "primarily built its business overseas, but has been trying to expand in the U.S.," with moves including its acquisition of The Big Lead from Gannett earlier this year (WALL STREET JOURNAL, 11/21). Jeter announced the deal, with few details, earlier today with an essay on The Players' Tribune titled "The Next Five" (THEPLAYERSTRIBUNE.com, 11/21).