The Unexpected Sale of Deadspin and the Consequent Layoffs of Its Entire Staff
The digital landscape of sports journalism was turned upside down on Monday when it was announced that Deadspin, the irreverent and influential sports news outlet renowned for its incisive commentary and analysis, had undergone a change of ownership. The site, which had been part of G/O Media’s portfolio prior to the sale, was bought by Lineup Publishing, a newly established digital media firm based in Europe.
In an internal memo addressed to the staff, Jim Spanfeller, CEO of G/O Media, shared the news of Deadspin’s sale and its subsequent implications. According to Spanfeller, the decision to sell the asset was not a result of active negotiations but rather a strategic move driven by several significant factors. These included Lineup Publishing’s editorial vision for the brand, intense competition in the sports journalism sector, and a valuation that represented a substantial increase compared to G/O Media’s initial investment in Deadspin.
Despite the new owners expressing admiration for Deadspin’s distinctive voice, the outlet was to undergo a transformation regarding its sports coverage. This shift unfortunately led to the termination of all 11 Deadspin staff members as part of Lineup Publishing’s plan to construct a new team that better aligned with their editorial vision for the brand.
In a December all-hands meeting, Spanfeller had acknowledged G/O Media’s ongoing evaluation of its portfolio and operations to allocate resources effectively.
This unexpected sale and the accompanying layoffs have left the sports journalism community in a state of flux, as Deadspin’s unique perspective and influential voice will now be carried forward by a new team under Lineup Publishing. The full implications of this change remain to be seen, but one thing is certain: the sports journalism landscape will continue to evolve in response to shifting market dynamics and reader preferences.
G/O Media’s spokesperson declined to disclose the terms of the sale.
