Catena Media signs content and commercial deal with The Sporting News
Catena Media will create content as the exclusive betting partner to The Sporting News.
US.- The affiliate group Catena Media has signed a content and commercial media deal with the US sports publisher The Sporting News. The deal will run for three years and will see Catena Media create editorial and advertorial content as The Sporting News’s exclusive betting partner.
Catena Media will create digital content for sports, casino gaming and fantasy sports audiences for hosting and distribution on The Sporting News’s websites. The Sporting News has a US presence and across sports ranging from college sports, basketball and football to hockey, motorsports, golf, tennis, boxing and others. The partnership will later expand to Mexico, Argentina and Brazil.
Ryan Harper, Catena Media vice president for North America, said: “The Sporting News is one of the oldest names in sports publishing in the US and we’re delighted to have them as a core media partner. Their close to 45 million unique users per month give us access to a large audience that will enable us to compete directly with some of the top sports publishing companies in the world.”
Shaun Koiner, chief operating officer of The Sporting News, added: “No one is as passionate about quality sports content as The Sporting News is, which is why a partnership with Catena Media makes so much sense. From day one, our objectives have been aligned and we’re incredibly excited to see where this can take us, not only in the US but also as we look to expand internationally.”
In May, Catena Media appointed Erik Edeen as interim chief financial officer (CFO). Replacing Peter Messner, Edeen takes up the role for a second time, having previously served as CFO at Catena from 2019 to 2020.
Catena Media outlines cost-saving objectives
Catena Media has announced that it aims to make cost savings of between €3.8m and €4.2m as it streamlines its business to focus on the US market. The company has agreed to sell its UK and Australian sports betting assets, including Squawka and GG.co.uk, to Moneta Communications for €6m.
The selloff is expected to reduce annual costs by €2.8m. Cost savings and proceeds from divestments will reduce corporate debt. Meanwhile, Catena continues to review its media portfolio as part of its ongoing strategic review, which it says includes the option of a sale.
