Several sports media firms are looking for buyers or investors, hoping to cash in on the expansion of online sports betting across the U.S.
The Chernin Group’s The Action Network, a news and data source for sports betting, has tapped boutique bank Moelis & Co. to explore a sale, according to people familiar with the situation. The owners of the three-year-old company are hoping it will fetch more than $250 million, or more than 10 times its 2020 revenue.
