To cater to sports betting and daily fantasy sports players in the US
Los Angeles-based, privately-held media holding company The Chernin Group LLC (TCG) has formed The Action Network (TAN) through the rollup of three recently acquired fantasy and sports betting data and analytics entities.
The Action Network, theaction.io, will operate as a subscription-based sports and media company targeting the betting and fantasy sports industry with premium content including video, podcasts and editorials. It comprises the FantasyLabs, Sports Insights and SportsAction businesses.
Sports Insights is a sports information and betting services provider whose products include sports betting software, public betting trends, and live odds.
SportsAction is a native app platform offering real-time scores, odds and picks tracking, with information and analysis targeting both casual and engaged sports bettors.
FantasyLabs provides daily fantasy sports players with proprietary data and tools to test theories, quickly create and backtest models, and ultimately, construct profitable daily fantasy sports lineups.
Existing employees from the three enterprises will continue with TAN and their founders will serve key roles in the venture. TAN has recruited well-known former ESPN digital executive Chad Millman as its head of media.
“My investment in FantasyLabs was a bet on the future of how people consume sports – with something at stake,” Mark Cuban, serial entrepreneur, investor, and owner of the Dallas Mavericks, said. “The company’s acquisition by the Chernin Group and the creation of the Action Network reaffirm that this market is underserved.”