Fox Corp. Acquires Clay Travis’ Outkick in Sports Betting Game

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Fox Corporation acquires Outkick, the sports media and pop culture platform, founded by Clay Travis.

“Outkick is a natural complement to many of our brands and will deepen our investment in the sports betting ecosystem,” CEO Lachlan Murdoch said during the investor call following the company’s quarterly results.

“Importantly, Outkick also creates sports betting content and currently has an exclusive marketing agreement with FanDuel which has proven to be remarkably effective,” he added.

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FOXA FOX CORP. 36.34 -0.40 -1.09%

Outkick will be managed as an independent brand and will be woven onto Fox’s existing platforms. Travis, whose sports radio show reaches more than 10 million listeners monthly, will be Outkick’s chairman.

“Outkick was born out of my passion for producing bold, knowledgeable and entertaining content on sports, news and most recently sports betting. With the power of FOX behind us, we look forward to continuing the engagement. Outkick’s steadfast commitment to this mission, ”Travis said in a statement.

READ THE FULL NOTE FROM CLAY TRAVIS HERE

Additionally, “two-thirds of users are between the ages of 18 and 54, and more than 70% report household income over $ 50,000,” the company noted.

Fox shares have gained nearly 25% this year, outperforming the wider S&P 500’s 11% rise through Wednesday.

In the quarter, the company reported total revenue of $ 3.22 billion, up from $ 3.44 billion in the quarter last year. The drop was mainly due to the lack of the previous year’s broadcast of Super Bowl LIV. Profit jumped to $ 567 million, or 96 cents per share, from $ 78 million, or 13 cents per share, in the previous year quarter.

Fox Corp. is the parent company of FOX Business and Fox News.



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