The company plans to leverage its masthead reach to promote its new bookmaking product.
๐ Background: News Corp is the multibillion-dollar media and publishing company owned by Aussie-born billionaire Rupert Murdoch. It's behind tonnes of famous titles like The Herald Sun, The Australian, Vogue and GQ ๐ฐ๐ .
๐ What happened: The company is finalising plans to launch a gambling company in partnership with a group of investors including online wagering pioneer Matt Tripp - the guy who built SportsBet and BetEasy.
๐ What else: NewsCorp plans to leverage the reach of its big mastheads and its majority ownership of Foxtel to push its new bookmaking product.
๐ก In any industry, finding the right distribution partner is key. When it comes to bookies, it looks like broadcasters (or news publishers) are a perfect match.
๐กMore and more, the gambling industry is seeing broadcasters take equity stakes in betting companies, in exchange for sponsorship rights and promotion during live sports events ๐.
๐ก Put simply, these arrangements help bookies increase their reach, and they make a good source of extra cash for media companies too.
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