In an effort to improve its position as an integral service provider, Genius Sports has announced the appointment of Tony Marlow as chief marketing officer (CMO).Marlow...
Genius Sports’ $1.2B Legend acquisition completed
Genius Sports has revealed that it has completed the $1.2 billion worth acquisition of sports media company Legend.
Genius Sports announced the $1.2 billion acquisition of Legend back in February 2026 for the first time, as the company was aiming to improve its position in sports media and expand across iGaming audiences. According to the agreement, the transaction was valued at $800 million in cash and $100 million in stock, with an additional $300 million earnout during the two years after closing the deal.
Genius Sports CEO Mark Locke commented:
“Genius Sports has spent years building the data infrastructure behind modern sport. With Legend, we now extend that into the moment where fans choose to participate and act. This combination not only strengthens our core sports business but also expands our ability to monetise new audiences in iGaming, increasing the economic value of our platform across both verticals and driving significant cash flow.”
However, feedback was mostly negative, as Genius’ share price dropped by 27% after the news was first announced, hitting the company with $600-700 million in losses.
The CEO has also argued that the criticism is because investors underestimate the potential of Genius, as Locke believes that the acquisition will bring long-term benefits despite the short-term pressure.
The company has stated that more details about the integration of Legend will be discussed on May 7, 2026, during the Q1 earnings call.
The market cap of the technology group Genius Sports has been dropping for the past few weeks and has now fallen below the price it paid to acquire digital sports and gaming...
