By Richard Pagliaro | @Tennis_Now | Wednesday, September 25, 2024
Picture credit score: Fred Mullane for Tennis Channel Fb
Tennis Channel has turned to a well-known face as its new chief.
Invoice Simon has been named TC Interim President, Tennis Channel introduced at the moment.
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Simon joined the community as CFO in 2005 and has served a wide range of government Tennis Channel roles lately.
Right here is Tennis Channel’s announcement issued this afternoon:
Sinclair, Inc. has named Tennis Channel’s Invoice Simon because the community’s interim president. Simon has been in a high management position since becoming a member of the channel as CFO in 2005, lately serving as EVP, COO and CFO. He has been immediately concerned in the important thing selections which have guided the community throughout the previous twenty years and can oversee all elements of its enterprise.
Simon takes over about three weeks after TC’s mum or dad firm, Sinclair, axed long-time CEO Ken Solomon.
Sinclair ousted Solomon over his position as an advisory board member for Dr. Phil McGraw’s Benefit Road Media firm, in accordance with a Wall Road Journal report earlier this month.
The Journal reported Sinclair execs noticed Solomon’s work with Dr. Phil’s new media firm as “a rising distraction.”
In the meantime, sources near Solomon declare he served comparable roles as advisory board members all through his TC tenure and it was not a difficulty till Sinclair started on the lookout for a trigger to make a transfer.
Tennis Channel grew its viewers throughout Solomon’s tenure, although it has not been worthwhile since its inception below founder Steve Bellamy.
Studies say media big Sinclair has been making an attempt to unload Tennis Channel and ousting Solomon might effectively have been a part of its streamlining course of in preparation for a sale.
Nevertheless, in an interview with interview with SportsBusiness Journal Sinclair COO Rob Weisbord downplayed Solomon’s position over the previous 18 months saying Simon and an government crew has been operating day-to-day TC operations whereas Simon was “the spokesperson for the community.”
Weisbord informed SportsBusiness Journal that whereas Solomon was “the face of the community” an government crew was really operating the community. Weisbord mentioned a senior administration crew of Simon, Senior Vice President of Manufacturing Bob Whyley, Senior Vice President David Edges, Senior Vice President Worldwide Programming Andy Reif, Senior Vice President Nationwide Sports activities Gross sales Irv Schulman and Vice President of Advertising Christina Tesauro has been operating the community, suggesting Solomon’s position was diminished over the previous year-and-a-half.
“When Sinclair is writing a test for an worker, we count on 100% of the main target to be on what we’re paying them to be and never have a number of focuses,” mentioned Weisbord. “We have to give attention to the belongings that we personal.
“Ken definitely was the face of Tennis Channel, nevertheless it takes a village to run a community.”
Sinclair COO Weisbord additionally informed SportsBusiness Journal that the corporate has “by no means publicly acknowledged” Tennis Channel is on the market.
Regardless of that assertion, it has been reported that Sinclair is in search of to promote TC, which launched its PickleballTV final 12 months in an effort to capitalize on pickleball’s home progress.
“We had some inbound inquiries. If we will get accreted worth for any asset, we’re at all times open to take a look at it,” mentioned Weisbord. “Proper now, we’re centered not a sale—if that occurs, nice—however we’re centered that we personal this operation and that we actually are bullish on the enlargement of tennis.”
Weisbord additionally factors out that Tennis Channel Worldwide is now out there in eight nations and Sinclair sees that as a supply of potential worldwide progress, although none of these eight markets are as massive as the US.
Again in 2016 Sinclair Broadcast Group acquired Tennis Channel for $350 million.
Three months earlier than that 2016 sale, The Wall Road Journal reported former Tennis Channel majority homeowners Apollo World Administration, Bain Capital Ventures, Battery Ventures, CCMP Capital and Columbia Capital, had been in gross sales talks with Sinclair with an asking worth “north of $500 million.”
Whereas the ultimate gross sales worth was effectively in need of that, Sinclair supplied Tennis Channel with a considerably bigger media platform.
When Sinclair purchased TC, execs envisioned the added publicity and branding alternatives throughout a number of platforms creating elevated advert income for each Tennis Channel and Tennis Channel Plus, the community’s subscription companion channel.
“In Sinclair now we have discovered the right owner-partner to speed up scaling the Tennis Channel model and our sport’s increasing fan-base to the following stage,” former Tennis Channel CEO Ken Solomon mentioned in a 2016 assertion. “Sinclair’s distinctive measurement and place within the media ecosystem will facilitate vital distribution progress in the direction of parity with our aggressive set and develop our model’s belongings and distinctive worth because the go-to vacation spot for all issues tennis within the U.S. and past.”
Tennis Channel has additionally loved an infusion of advertiser {dollars} from betting corporations, although some viewers have grown annoyed with the fixed infusion off odds displayed earlier than and through matches as an annoying lure for gamblers.
Launched on Could 15, 2003 by founder Steve Bellamy, Tennis Channel has added well being and health, journey and popular culture programming to its tennis protection making an attempt to broaden viewership with out alienating core viewers who nonetheless come to TC to observe tennis.
