The New York Times reports that The Sporting News is for sale. The current owner–Paul Allen’s investment arm, Vulcan–bought the media business for $100 million five years ago.
Jay Kirsch, a vice president of AdMedia Partners, an investment banking and advisory firm for media companies, estimated that The Sporting News magazine was worth $35 million to $40 million.
The magazine provides slightly less than 50 percent of the company’s revenue of approximately $60 million a year, while the other half comes from its books, online and radio divisions.
Founded in 1886 by Alfred Henry Spink, a Canadian-born sportswriter, The Sporting News is the oldest sports publication in the United States. It focuses on news and is generally devoid of long features and personality profiles.
The Sporting News has a circulation of 715,767, placing it far behind Sports Illustraed and ESPN Magazine with 3.23 million and 1.89 million, respectively.
