The Chernin Group has created a new US sports data firm, named The Action Network that was established by media tycoon Peter Chernin by acquiring Fantasy Labs, SportsAction and Sports Insights.
Chernin, the Chairman and Chief Executive of the Chernin Group, revealed that Sports Insights, FantasyLabs and SportsAction will be united in order to form the Action Network, a subscription-based platform to “give sports betters access to data and analytical tools, along with podcasts, articles and videos analyzing sport from the prospective of a fan who has money on the line”. He added that we are living in a world where people are getting scores and highlights almost immediately.
FantasyLabs provides data and tools to test daily fantasy sports theories to help build team lineups while Sports Insights is a betting enterprise that tracks real-time scores and gives betting line analysis. SportsAction is an app that features live scores, betting odds and gambling advice.
Mark Cuban, owner of the NBA’s Dallas Mavericks and investor in FantasyLabs, commented that his investment in FantasyLabs was a bet on the future of how people consume sports – with something at stake.
Cuban went on to say that the company’s acquisition by the Chernin Group and the creation of the Action Network reaffirm that this market is underserved.
The creation of Action Network comes at a time when the United States has begun a period of reviewing, concerning the gambling industry and is an investment in future growth of online gambling in the country as it merges online platforms with sports data companies.
