Pink's Bottom Line on Media, Money and Sports

Digital media merger, office occupancy rates and Super Bowl favorites

In today’s newsletter, I discuss a digital media merger, office occupancy rates and Super Bowl favorites.

MEDIA: Digital Media Merger

Two leading digital media companies are planning to join forces, the latest sign of consolidation in the digital media industry.

Vox Media, home to brands including The Verge, Eater and SB Nation among others, said Monday that it plans to acquire Group Nine Media, home to Thrillist, POPSUGAR and more.

Pink's Bottom Line

The combined entity will become one of the largest digital media companies in the country, and it will need that scale to compete.

That’s because the digital media space is brutally competitive, with native digital media companies vying with both traditional media and big tech for market share.

As such, look for a lot more consolidation in the digital media industry as scale has become crucial in order for companies to stay competitive.

MONEY: Office Occupancy Rates

The average office occupancy rate in ten major cities fell slightly last week though that rate is still hovering near its highest level since the pandemic began, according to data from Kastle systems, an office security company.

The average office occupancy rate among the ten major cities tracked by Kastle fell to 39.8% last week, down from 40.6% the week earlier.

Pink's Bottom Line

Notably, last week’s average office occupancy rate is still above the average rate of 38.8% from the middle of November, roughly around the same time that the Omicron variant appeared.

As such, while office occupancy rates are still well below pre-pandemic levels, they are nonetheless mostly holding steady — at least in the short term.

SPORTS: Super Bowl Favorites

The Kansas City Chiefs (+500) and the Tampa Bay Buccaneers (+650) were the two Super Bowl favorites before the season began, according to FanDuel Sportsbook.

Today, with only four games left in the regular season, the Buccaneers (+500) and the Chiefs (+550) are once again the top two favorites, according to FanDuel, though that certainly wasn’t the case for stretches of this season.

Pink's Bottom Line

During the early part of the season, Kansas City struggled, but the Chiefs now are on a six-game winning streak.

The Bucs are on a four-game winning streak of their own, and they now are tied for the best record in all of football.

There’s an old adage in the NFL that the real football season starts after Thanksgiving — if that holds true this year, then a Tampa-Kansas City Super Bowl could happen for the second straight time.

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Jeremy Pink is currently an advisor to media and fintech companies around the world. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.

The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.

(Newsletter Editor: Karina Pink)