Penske Media Corp. is entering the sports-coverage business.
The company, parent of FN, today said it will launch Sportico, a digital content platform focusing on sports industry news, data, information, strategy, leadership and live media. Sportico joins the PMC portfolio, which also includes titles such as WWD, Variety and Rolling Stone.
“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 Corp.’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.”
Veteran sports and entertainment executive Dick Glover was named president and CEO of the venture, with award-winning sports business reporter Scott Soshnick taking the role of editor in chief and head of content.
Glover previously held senior positions at media corporations ESPN and ABC, in addition to stints at Walt Disney and NASCAR. His most recent media ventures included serving as the founding president and CEO of Funny or Die, the comedy digital platform, and president and CEO of Mandalay Sports Media.
Soshnick joins the Sportico team from Bloomberg News, where he spent 27 years covering sports business. His work included co-hosting a Business of Sports radio show, launching a podcast and developing the media company’s sports business coverage.
“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,” said Penske. “The strength of PMC’s financial standing allows us to be in a perfect position to launch and rapidly expand this new venture at this unique time.”