Sinclair Broadcast Group and Access Holdings Partnership Aims to Revolutionize Sports Marketing Agencies
Sinclair Broadcast Group
Sinclair Broadcast Group and Access Holdings recently purchased Outfront Media Sports from CBS after the property was put up on the media sales market over a year ago.
The company, previously under the name CBS Collegiate Sports Properties, was reportedly sold for less than the initial asking price.
According to a report by SBJ, College published on, the initial asking price for the company as reported by insiders was around $35M.
This however was likely renegotiated downwards due to a reduction in the value of the business.
This was because the Covid-19 pandemic has resulted in a significant reduction in ticket sales, thereby lowering the value of the establishment. The actual terms through which Outfront was acquired have been kept private.
The acquisition of Outfront paved the way for the formulation of a full-fledged sports marketing agency.
The new agency will go by Playfly Sports. Playfly Sports will take charge of all the college and high school rights previously held by Outfront.
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