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Nexstar Media and SportsGrid to Launch First-Ever Diginet for Sports Wagering and Fantasy Sports
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Nexstar Media Group has partnered with SportsGrid Inc. to launch the SportsGrid Network, the first 24-hour sports wagering and fantasy sports channel, starting September 1. This service will be available in nine major U.S. markets, including San Francisco and Washington, D.C., enhancing Nexstar's digital subchannel offerings. The network promises 18 hours of exclusive live programming, featuring sports news, data, and analytics. The collaboration aims to tap into the growing interest in sports betting and engage audiences across multiple platforms.
Positive
Launch of SportsGrid Network in nine major U.S. markets enhances Nexstar's content portfolio.
Partnership leverages Nexstar's extensive reach across 199 stations to engage sports fans and gamblers.
Potential new revenue stream from the growing interest in sports betting and fantasy sports.
Negative
None.
“SportsGrid Network” to Offer 24 Hours of Daily Programming in Nine Nexstar Markets on September 1
IRVING, Texas & NEW YORK--(BUSINESS WIRE)--
Nexstar Media Inc., a wholly-owned subsidiary of Nexstar Media Group, Inc. (Nasdaq: NXST), the largest local media company in the United States, and SportsGrid Inc., a streaming video network that provides extensive coverage of sports betting for all the major sports, today announced a multi-year agreement to launch “SportsGrid Network,” the nation’s first-ever diginet devoted to sports wagering and fantasy sports. Beginning September 1, SportsGrid Network will be distributed across nine digital subchannels licensed to Nexstar in nine major U.S. markets, including San Francisco, Washington, D.C., Tampa, Portland, Nashville, Norfolk, Grand Rapids, Knoxville, and Des Moines.
SportsGrid is the nation’s first and only 24-hour sports wagering and fantasy sports program service. SportsGrid’s content is currently distributed across over-the-air broadcast and cable television, connected Smart TVs, a variety of streaming platforms, mobile devices and on the internet. The new network will be available on recently vacated digital sub-channels licensed to Nexstar.
At its launch, SportsGrid Network will feature 18 hours of exclusive live original programming hosted by a team of on-air personalities, sports and gambling experts, and guest contributors, as well as a variety of pre-produced programming and encore presentations of the network’s most popular shows. The network’s mission is to provide real-time sports news, data, analytics, and statistics to engage sports audiences whenever and wherever they choose. SportsGrid’s reporting and analytic platform includes daily odds, lines, matchups, injury reports, statistics, news, and more across the NFL, NBA, MLB, NHL, college sports, golf, tennis, and soccer. SportsGrid’s live programming originates from state-of-the-art television production facilities adjacent to Madison Square Garden in New York City and at the SG Studios & Production Hub in New Jersey.
Louis Maione, Founder and President of SportsGrid, commented, “Nexstar’s national reach across 199 owned or operated television stations in 116 markets throughout the U.S. is a great platform for distributing our content to fantasy sports fans and gamblers everywhere. This initial nine-station launch of SportsGrid content will inform and entertain millions of sports fans across all screens and devices and provide them with expert reporting, commentary and analysis using our exclusive proprietary SportsGrid analytics platform. Finally, this agreement provides both companies the opportunity to share content and to strategically expand the network to additional Nexstar markets.”
“Our nation is sports obsessed and we are delighted to deliver SportsGrid’s programming to address the rapidly growing interest in sports betting and fantasy sports,” said Sean Compton, President of Nexstar Media Inc.’s Networks Division. “Distributing SportsGrid’s programming across digital subchannels in nine of our markets will enable us to connect with new audiences and continue expanding a new and fast growing revenue stream. As the nation’s #1 provider of content to fans of sports wagering and fantasy sports, SportsGrid is the perfect partner for this effort.”
About Nexstar Media Group, Inc.
Nexstar Media Group (NASDAQ: NXST) is a leading diversified media company that leverages localism to bring new services and value to consumers and advertisers through its traditional media, digital and mobile media platforms. Its wholly owned operating subsidiary, Nexstar Media Inc., consists of three divisions: Broadcasting, Digital, and Networks. The Broadcasting Division operates, programs, or provides sales and other services to 199 television stations and related digital multicast signals reaching 116 markets or approximately 39% of all U.S. television households (reflecting the FCC’s UHF discount). The division’s portfolio includes primary affiliates of NBC, CBS, ABC, FOX, MyNetworkTV and The CW. The Digital Division operates 120 local websites and 284 mobile apps offering hyper-local content and verticals for consumers and advertisers, allowing audiences to choose where, when, and how they access content and creating new revenue opportunities for the company. The Networks Division operates NewsNation, formerly WGN America, a national news and entertainment cable network reaching 75 million television homes, multicast network Antenna TV, and WGN Radio in Chicago. Nexstar also owns a 31.3% ownership stake in TV Food Network, a top tier cable asset. For more information, please visit www.nexstar.tv.
About SportsGrid Inc.
SportsGrid, Inc. is the multimedia content and technology platform providing digital innovative solutions for the convergence of sports content, gaming, and NextGen technology. The SportsGrid multimedia destinations include SportsGrid Streaming Video Network, SportsGrid Radio, SportsGrid.com, DailyRoto, and SportsGrid Studios. SportsGrid statistics and data sourced from Sportradar enables the network to integrate real time delivery of news, storylines, data, odds, statistics, and betting intelligence across the daily original program schedule. For more information, please visit sportsgrid.com.
