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Gregg Colvin Named CEO Of 1/ST Content

1/ST Content, the innovative operating group for 1/ST's media and content companies, announced the appointment of senior media executive Gregg Colvin as chief executive officer.

As CEO of 1/ST Content, Gregg Colvin will work with chief operating officer Jason Wilson to further develop and support the ongoing transformation of the 1/ST Content brands into a modern and cohesive entity to attract and retain a new group of consumers.

Colvin will collaborate with Craig Fravel, Aidan Butler and the 1/ST Racing team along with Paul Williams and the 1/ST Technology team on an integrated strategy to produce and deliver new content offerings, enhanced quality of production and new simulcast distribution platforms for the company's Thoroughbred horse racing and wagering products while continuing to build competitive platforms to service customers in dynamic new ways.

“Gregg Colvin's announcement as chief executive officer of the 1/ST Content group reflects our company's on-going commitment to build forward-thinking, innovative and successful sports-anchored digital, wagering, media and entertainment companies,” said Belinda Stronach, chairman, chief executive officer and president, 1/ST. “Gregg's passion for entrepreneurship, media, commerce and technology, along with his wealth of experience in managing day-to-day operations for billion-dollar media companies and directing media strategy for Fortune 100 companies, will bring deep expertise to strengthen our content offerings as we solidify our position as North America's premier Thoroughbred horse racing content company.”

Colvin is a respected senior media executive who has served in leadership roles at leading global companies such as Fox and Universal McCann. Most recently, he served as Chief Executive Officer of 421 Media, an innovative social media firm that owns and operates hundreds of channels across Instagram and TikTok with a global audience of more than 275 million viewers. Colvin has executed ground-breaking streaming deals and led omni-channel innovations for consumer-focused brands like Sony and Fox.

Aidan Butler, who previously served as president of the 1/ST Content business unit, will continue to be involved to drive and support the synchronization and alignment of the company's horse racing and content platforms in collaboration with Colvin.

“To have Gregg, a seasoned and accomplished media executive who shares our vision for growth and innovation, as part of the 1/ST team is a huge advantage,” said Aidan Butler, chief operating officer, 1/ST Racing. “I see significant opportunities ahead and look forward to working closely with Gregg and the 1/ST Content team to reenergize our existing Thoroughbred horse racing platforms and develop the content assets of the future.”

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“I am thrilled to work with Belinda Stronach, Aidan Butler and the entire 1/ST team to establish the 1/ST Content division as the future of content platforms for Thoroughbred horse racing,” said Colvin. “This amazing team shares my passion for innovation; I'm excited to build on the company's forward-thinking approach to sports-anchored entertainment and to reimagine our content offerings as a competitive sports product for a new generation of customers and fans.”

In addition, Colvin will collaborate with Jimmy Vargas and the 1/ST Experience team to support the broadcast production and strategic execution for 1/ST's marquee events, including the Preakness Stakes and the Pegasus World Cup Championship Invitational Series.

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Colvin Appointed 1/ST Content CEO

Gregg Colvin has been appointed chief executive officer of 1/ST Content, the operating group of 1/ST's media and content companies. Colvin will work with chief operating officer Jason Wilson to further develop 1/ST CONTENT brands to attract and retain a new group of consumers. He will also coordinate with Craig Fravel, Aidan Butler and the 1/ST RACING team along with Paul Williams and the 1/ST TECHNOLOGY team to produce and deliver new content offerings, enhanced quality of production and new simulcast distribution platforms for the company's Thoroughbred horse racing and wagering products.

“Gregg Colvin's announcement as Chief Executive Officer of the 1/ST CONTENT group reflects our company's on-going commitment to build forward-thinking, innovative and successful sports-anchored digital, wagering, media and entertainment companies,” said Belinda Stronach, Chairman, Chief Executive Officer and President, 1/ST. “Gregg's passion for entrepreneurship, media, commerce and technology, along with his wealth of experience in managing day-to-day operations for billion-dollar media companies and directing media strategy for Fortune 100 companies, will bring deep expertise to strengthen our content offerings as we solidify our position as North America's premier Thoroughbred horse racing content company.”

Colvin most recently served as Chief Executive Officer of 421 Media, an social media firm that owns and operates hundreds of channels across Instagram and TikTok with a global audience of more than 275 million viewers.

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Report: Stronach Group Fielding Interest In Several Assets

Bloomberg reported Tuesday that the racing and media company the Stronach Group is “exploring options for parts of its portfolio after fielding interest from special purpose acquisition companies and other suitors,” according to unnamed sources.

No specific assets were listed to be under consideration.

The company's portfolio, estimated to be worth $1.5 billion, includes six racetracks in the U.S. (Santa Anita, Gulfstream, Pimlico, Laurel, Golden Gate, and Rosecroft Raceway), multiple training centers, wagering platform Xpressbet, tote company AmTote, a racetrack in Austria, and other real estate holdings. It also co-owns TrackNet Media, a horse racing content provider, with Churchill Downs.

Founded by Canadian Frank Stronach, the Stronach Group's racing and gaming businesses are now operated by his daughter Belinda Stronach following a public court battle, which ended last year.

Report: Stronach Group Considering Sale of Some Assets

According to a June 15 report from Bloomberg.com, The Stronach Group (TSG) has fielded interest from special purpose acquisition companies (SPACs) and others and is exploring options for parts of its portfolio. The Bloomberg report cited “people with knowledge of the matter” as its source.

The Bloomberg report states that TSG is working with an outside advisor and has been approached by a number of parties, among them digital betting and media companies, that have expressed interest in aspects of the business. Bloomberg estimated the Stronach company portfolio is worth more than $1.5 billion.

What remains unknown is what assets might be on the market and which are not. The Stronach Group, which is based in Aurora, Ontario, owns five Thoroughbred racetracks: Santa Anita, Golden Gate Fields, Gulfstream Park, Laurel and Pimlico. According to Wikipedia, its other assets include AmTote International, Bowie Racetrack, Palm Meadows, Xpressbet, The Village at Gulfstream, a racetrack in Austria and the harness track Rosecroft Raceway.

Though TSG may be looking only to sell some of its lesser assets, a potential sale of some others, namely Santa Anita and Gulfstream, could be a cause for concern for the racing industry. TSG has built a reputation as a pro-racing company and may view its assets differently than other companies, particularly casino or real estate companies.

In 2020 Stronach patriarch Frank Stronach and his daughter, Belinda, ended a battle for control of the company that had led to lawsuits. Under the agreement, Belinda got control of the Stronach Group's Thoroughbred racing and gaming businesses, while Frank and his wife, Elfriede Stronach, took over operation of the family's racing and breeding operations. As part of the deal, Frank Stronach relinquished any claims to the current assets that make up The Stronach Group.

TSG Chief Executive, Racing Operations Craig Fravel, sent the TDN the following email in response to a request for a comment.

“The Stronach Group and 1/ST remain committed to building a world-class entertainment and wagering company with Thoroughbred horse racing, racetrack venues and best-in-class guest experience at the core. Our mission is to be the most forward-thinking, innovative and successful sports-anchored, digital media and wagering content business in the world. Every business decision we make is to further that mission and support our racing infrastructure.”

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