Barstool Sports Undergoes Layoffs; Dave Portnoy Admits “It Sucks”

Barstool Sports is the latest digital media company to undergo layoffs.

Founder Dave Portnoy revealed the news on a video on Barstool’s own YouTube channel.

Related Stories

Barstool Sports Founder Dave Portnoy Bought Site Back For $1 After Selling It For $551M

Kevin Clancy Tapped For Comedy Leadership Role At Barstool Sports

“I’ve been very clear, to anyone who has paid attention, we are going to have layoffs and cuts and it’s started and it sucks. People who know me from the beginning know that I hate firing people,” he said. “Having said that, it’s a no brainer… because otherwise nobody will have jobs so we have to get back to a breakeven thing, we’re losing a lot and it sucks.”

Portnoy said that Matt Fitzgerald, who was hired as a newsletter writer, and has been an NFL blogger for Barstool, was one of those cut.

It comes after Portnoy bought the site back from Penn Entertainment for $1 after the latter struck a deal with Disney. It comes after Penn bought Barstool for $551M.

Peter Chernin’s Chernin Media Group had previously bought a 51% stake in Barstool in 2016.

Must Read Stories

Hulu Cancels Elle Fanning-Nicholas Hoult Drama ‘The Great’ After Three Seasons

‘Holdovers’, ‘Rustin’, ‘Saltburn’, ‘Nyad’ In Lineup; Barry Jenkins On Festival’s First 50 Years

‘Comandante’ Review; ‘Maestro’ Producer Q&A; Chazelle, Guadagnino, Latest Galleries & More

Sets Fall Movie Dates For ‘The Killer’, ‘Pain Hustlers’, Wes Anderson Pic & More

Read More About:

Source: Read Full Article