Media Companies Keep Turning to Gambling. It’s Not What You Think
Brian Steinberg Senior TV Editor Gambling is often full of risk, but it may also be the surest bet stressed executives in the frenzied media business these days can make. Disney earlier this month became the latest of the traditional media conglomerates to hook upwith purveyors of sports wagering. Under terms of a deal struck with Penn Entertainment, Disney’s ESPN stands to receive $2 billion in cash and warrants over10 years from the gambling purveyor.