Contributor Since 2017
What is The Chernin Group?
The Chernin Group (TCG) is a privately owned, LLC that is based out of Los Angeles, California and is founded and owned by Peter Chernin. It has built, managed, operated, and invested in businesses in the media, entertainment, and technology sectors around the world.
Their assets include Chernin Entertainment, a majority stake in Hong Kong-based CA Media, and investments in a number of digital media companies including Pandora, Fullscreen, Base79, MiTÃº, Tumblr, Flipboard and Scopely. They also recently acquired the very controversial sports-blogging company known as Barstool Sports.
Almost 18 months ago Barstool Sports made the move to New York City and establish a headquarters there. Ever since then they have been making a name for themselves as one of the most provocative news outlets available in the United States and even the world. During a time of extreme political correctness where people seem to get upset over just about everything, Barstool is there as a friendly reminder for them that life is short and to not take themselves too seriously.
How does this help the Chernin Group?
The Chernin Group may have found a diamond in the rough when they bought Barstool Sports at a valuation of $10 million to $15 million. Many other media outlets were probably scared off due to the nature of the content that Barstool produces, whether it be due to the profanity, hot takes, or even their relentlessness on social media. The Chernin Group realized that this type of company shouldn't be avoided due to these factors but one should jump at the opportunity to buy this company because of these unique characteristics. No other media outlet has been able to accumulate the amount of wild success quite like Barstool did, in the way that Barstool did. They are a one-of-a-kind company but what's even more valuable is that they also happen to be in the ear of millions of young Americans. This is primarily due to their primary audience being high school, and especially college students. By having a very young audience they are getting followers, or Stoolies, for the rest of their lives which will help further propel Barstool to bigger and better things.
What has Barstool done since it moved to Manhattan?
Ever since Barstool moved to Manhattan they have proceeded to expand their brand and build it to the extent that it has become a household name throughout almost the entire country. They have been quite busy over the past 18 months but here are some of their highlights:
With Barstool's presence across all social media platforms it could help catapult them into becoming a media juggernaut in the next couple of years with social media being an increasingly important aspect of the news. It also helps that they have a strong grip on the younger demographics in the United States, which means the only place for Barstool to go is up.
Also, the better that Barstool does, the better that the Chernin Group does. If the Chernin Group ever decides to go public then they could be a stock to watch out for.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.