Private equity bought Deadspin. It didn’t work out.
Deadspin, the once-upon-a-time go-to sports and culture website, is now a shell of its former self.
Deadspin is owned by a private equity company that reportedly wanted a more aggressive ad policy and told reporters to “stick to sports.” None of that went over well this week, resulting in the firing of a top editor and the mass resignation of Deadspin staffers in protest. The disaster also says a lot about what can happen when private equity and an online media company collide.
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