Ex-CNN chief Jeff Zucker has acquired a minority stake in sports newsletter startup Front Office Sports, which hits 800,000 inboxes twice daily. He will also serve as co-chair of their board.
This deal only adds to his previous launch of RedBird IMI, a $1 billion investment fund focused on media, entertainment, and sports. It is the fund he used to make the deal.
The deal is a huge move for FOS, which CEO Adam White launched in 2014 while still a college student. In 2022, FOS raised around $5 million from Crain Communications at around a $25 million valuation; Zucker’s stake buys Crain out and values FOS at $40 million.
“As we enter this next stage of expansion, we are incredibly excited to partner with Jeff Zucker, one of the media industry’s greatest minds,” Front Office’s CEO Adam White said in the press release.
As for Zucker, he now has a brand and platform to develop and license new, with a source saying FOS will seek to bring in new on-camera talent.
