News Corp. and The Associated Press (AP) announced Aug. 4 that they have formed a joint venture named STATS LLC to produce sports data and content.
The joint venture will combine sports information and statistical analysis company STATS Inc., owned by News Corp., and AP’s multimedia sports service MegaSports. Under the new agreement, News Corp. and AP will each own half of the joint venture.
The joint venture is designed to give AP and its customers and members an independent, accurate and complete source of sports data across media platforms. The joint venture brings together the editorial content of MegaSports and the research data of STATS.
Gary Walrath, CEO of STATS, will serve as president and CEO of the new joint venture. He will report to a board equally comprised of representatives from News Corp. and AP. The company will retain STATS’ current headquarters in the Chicago area and its offices in Los Angeles.