As Vox Media explores a potentially imminent sale of its assets, new details have emerged about just how valuable the sports website SB Nation remains within its portfolio.
In a new story at AdWeek, media reporter Mark Stenberg wrote that SB Nation is “at the top of the Vox Media hierarchy,” due to its relatively low costs and significant revenue. Stenberg reported that SB Nation still brings in between $50 and 100 million annually and is profitable.
Stenberg described SB Nation as a key part of the “premium arm” of Vox’s business, writing that he projects SB Nation to be among the more valuable assets that could change hands in the broader Vox sell-off that is reportedly already underway.
As we wrote when the news broke that SB Nation was up for sale, the site’s diminishment is a tragedy. Vox grew largely from the success of SB Nation before taking it to the scrapyard in recent years.
While SB Nation was one of the most forward-thinking and creative networks when it started, the platform is now largely a shell of its former self. Many of the company’s top voices have long since moved on, and some of its best blogs now operate elsewhere (or no longer exist). It also took a significant reputational hit over accusations of overworking underpaid contractors to churn out content, an issue that was eventually settled in court. The company clearly still holds significant potential, but it will likely rely on its next owner to salvage it.
Potential suitors could include a digital media conglomerate such as Minute Media, which operates Sports Illustrated, Penske Media, which already owns a stake in Vox Media, or any number of social media, sports betting, or gaming companies that might want to tap into SB Nation’s passionate sports fan base.
Many fans still see SB Nation team sites as beloved components of their interactions with their teams, and that audience is fueling their impressive staying power. Unfortunately, Vox is selling low on the company at a point where it may never return to the innovative peaks it reached years ago.
About Brendon Kleen
Brendon is a Media Commentary staff writer at Awful Announcing. He has also covered basketball and sports business at Front Office Sports, SB Nation, Uproxx and more.