F.Y.I.

Sports media company acquires challenger brand

Australian sports media company The Public Apology has acquired new sports website The Sporting Regard.

The announcement:

SYDNEY: Sports media challenger The Public Apology has penned a commercial agreement to acquire new market entrant, The Sporting Regard, for an undisclosed sum.The Public Apology founder and publisher, Dave Edwards, said the acquisition signals an aggressive push by the two mastheads to capture a larger slice of the online sports opinion market.

“While a relative newcomer to the field of obscure sports opinion writing, The Sporting Regard has quickly generated a loyal online fan-base – and that’s something we were eager to capitalise on,” Edwards said.

“The consolidation of the two publications will not only achieve synergies through the reduction of overheads, it will also help us reach a new audience of people seeking alternative, contrarian and entertaining sports opinion. I’d add that the deal is in-line with The Public Apology’s previously stated near-term inorganic growth strategy.

“But most importantly, the acquisition will ensure our readers get more of what they want: sports opinion articles that are borderline-offensive, potentially defamatory and of questionable comedic value.”

Edwards said that Australia’s crowd-sourced sports content market is dominated by one publication – the monolithic yet well-respected ‘Roar’ opinion website – which he said offers up the same old, tired and “beige” opinions.

“Our experienced team of writers will deliver exactly the kind of fresh, edgy and innovative – yet obscure and occasionally litigious – content that’s been missing from the Australian sports media ecosystem,” Edwards said.

“Watch this space; we’re aiming to steal the Roar’s lunch over the next 6-12 months.”

The Sporting Regard founder Sam Perry said the consolidation of the two titles would help TSR achieve its admittedly lofty ambitions.

“From the start we have said we are a high-growth company and we want to make a lot of money. In particular, we were very impressed with The Public Apology’s inorganic growth strategy, and we feel this deal helps us realise our dreams,” Perry said.

“It certainly helps that TPA shares a lot of our core values, be it the condemnation of shitty-little grubbers on the fifth tackle in touch footy, or the lionization of yesterday’s sporting heroes – but at the end of the day this is a business deal and money talks.

Meanwhile, Perry reassured loyal Sporting Regard readers that while the publication will no longer continue to operate, its spirit and quality will live on under The Public Apology.

“In fact, the merger of the two titles will allow us to produce better content on a more regular basis – and to get more eyeballs on our product. No doubt our fans will be happy with that,” he said.

“Especially if we say product more often.”

“As we said from the outset, TSR can bring new methods and capabilities that, when combined with TPA’s industry and technology expertise, will enable us to bring more comprehensive and innovative solutions to the market.”

“By solutions, I largely mean undeservedly bullish and lightly indulgent print-based communication that, when reduced, is nothing more than drummed up train of thought.”

In a bid to keep the cost of the transaction confidential, the deal was done entirely in digital ‘bitcoin’ currency.

However, analysts have estimated the deal to be worth “probably not that much, if anything.”

Source: AAP Medianet press release from The Sporting Regard and The Public Apology.

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