(ADDS VSiN SPOKESPERSON QUOTE IN NEW 5TH GRAF AND CONTRIBUTORS)

You are … once again … looking live at VSiN.

Musburger Media announced Monday it had acquired the Vegas Sports Information Network (VSiN) from DraftKings, slightly more than three years after the mobile titan purchased the sports betting broadcast company.

DraftKings originally acquired VSiN — founded by Brian Musburger, nephew of legendary sports broadcaster and VSiN contributor Brent Musburger — for $70 million in March 2021. Brian Musburger and fellow VSiN co-founder Bill Adee, who began the company in 2017, will again be in charge.

“While a lot has changed in the sports betting industry over the past three-and-a-half years, our original vision for VSiN still holds and we are committed to delivering the most credible, independent information and analysis sports bettors can find anywhere,” Musburger said in a joint statement. “We truly appreciate the work we’ve done with DraftKings and look forward to continuing to collaborate on future projects. Bill and I couldn’t be more excited about leading VSiN into the future and cementing our position as a trusted authority in sports betting.”

“We’re not able to share those details,” a VSiN spokesperson said about the financial details of the transaction, “but I can tell you to look out for more news in the coming weeks.”

— Matt Rybaltowski (@MattRybaltowski) July 22, 2024

DraftKings selling VSiN back to Musburger Media is the second notable return of sale for a gaming company selling a sports betting content company back to its original founder within the last 12 months.

PENN Entertainment sold Barstool Sports back to founder Dave Portnoy last August for $1. That was barely a year after it exercised a 100% option to buy the upstart social media company for a then-valuation of $450 million. Selling Barstool back to Portnoy was part of PENN’s pivot to its current sports betting platform featuring ESPN BET.

But back in 2021, both Barstool and VSiN were considered valuable pieces in an arms race to build content in a rapidly expanding sports betting market across the country. When DraftKings bought VSiN back in March 2021, co-founder Jason Robins felt he would be able to quickly expand VSiN “in the hopes of adding value to consumers who are looking to become more knowledgable about sports betting.”

Fast forward more than three years later, DraftKings, Portnoy and VSiN have all come full circle in some respects. Within six months after reacquiring Barstool Sports from PENN, Portnoy and company entered a content agreement with DraftKings. VSiN and DraftKings will continue to have a relationship, albeit on a smaller and more traditional scale.

“DraftKings continues to optimize its investments in content and media to align with the most critical areas and needs of our business strategy, objectives, and goals,” said Stephanie Sherman, Chief Marketing Officer, DraftKings. “We want to thank Brian, Bill, and the entire team at VSiN for a great relationship, and we look forward to continuing to advertise on the network.”

VSiN offers 18 hours of unique sports betting content daily and has an extensive reach via its website and 24/7 stream. It can be seen on Rogers’ Sportsnet, NESN, AT&T Pittsburgh, and Marquee Sports Network. VSiN has a dedicated channel on iHeart Radio and can be heard on more than 300 terrestial radio stations throughout the U.S.

DraftKings posted fractional gains in Monday’s after-hours session, trading just below $37 a share on the NASDAQ market. DraftKings is up by approximately 19% over the last 12 months.

Patrick Everson and Matt Rybaltowski contributed to this report.