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.
New Beginnings at Sinclair Broadcast Group and Access Holdings
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.
These include multimedia rights to Denver, LSU, St. Bonaventure, Old Dominion, Virginia, Oral Roberts, Maryland, Oakland, New Mexico, Troy, and Wichita State.
The rights in high schools come with eight athletic associations across eight states.
These new rights will be managed through Playfly Sports Properties; a rebrand of the acquired Outfront business.
In addition to the rights mentioned, two esports companies were also acquired and will be fully managed by Playfly. These companies adding to Playfly’s portfolio are World Gaming Network and the Collegiate Star League.
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About Sinclair Broadcast Group, Inc.
Sinclair Broadcast Group is a diversified media company and leading provider of local sports and news. The Company owns and/or operates 23 regional sports network brands; owns, operates and/or provides services to 190 television stations in 88 markets; is a leading local news provider in the country; owns multiple national networks; and has TV stations affiliated with all the major broadcast networks. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.
