Gary Lineker sells stake in podcast empire to Hollywood mogul

Gary Lineker has sold a stake in his podcasting empire to a US media group founded by Hollywood mogul Peter Chernin.Goalhanger, the production company behind The Rest Is ... podcast series, has sold a minority stake to The Chernin Group (TCG) for an undisclosed sum.The deal, which is Goalhanger’s first external investment, comes as the company looks to transform its hit podcasts into global franchises across different formats. TCG will also take a seat on Goalhanger’s board.Goalhanger, which was founded by Mr Lineker alongside former ITV executive Tony Pastor and sports journalist Jack Davenport, last year struck a deal to turn The Rest is Football into a TV show airing on Netflix during this summer’s World Cup.The company has also enjoyed huge success through shows such as The Rest is History, The Rest is Politics, and The Rest is Entertainment, which have built up large audiences and hosted sell-out shows in venues such as the Royal Albert Hall.The London-based firm, which employs around 80 people, has now passed more than a quarter of a million paying subscribers, equating to around £15m in annual revenues.Last year, it generated more than 750 million full-episode views and streams across its network.Bosses are now targeting the US for further expansion to cash in on the growing demand for its podcasts and live shows across the Atlantic.The production company has recently struck a number of high-profile editorial partnerships in the US, including a Rest is History series on the history of Disney and a Beatles special with the American talk-show host Conan O’Brien as a special guest.Goalhanger is also hoping to further cash in on its intellectual property (IP) in areas such as merchandising and publishing.Los Angeles-based TCG is a media-focused investment firm that has backed start-ups including Barstool Sports, The Athletic and Reese Witherspoon’s production company Hello Sunshine.It is also a key investor in Substack, the San Francisco-based newsletter publishing platform that has built up 50 million active users.It was co-founded by Peter Chernin, a former Murdoch executive who runs The North Road, the production company behind Love is Blind and New Girl.Mr Chernin has previously been linked to potential takeover bids for ITV Studios and All3Media, the British production giant behind The Traitors.Following TCG’s investment, Goalhanger co-founders Tony Pastor, Jack Davenport and Gary Lineker said: “Since we first met Peter and the TCG team more than a year ago, it has become increasingly clear that they share our vision for what Goalhanger can become, and are the perfect partner to help us realise that ambition.“This allows us to accelerate our US expansion, develop new IP from our hit shows, and take our ideas into new formats, platforms and markets. With a record number of paying members, we’re building a next-generation media company rooted in trust, creativity and curiosity and this partnership marks an exciting new chapter in that journey.”Greg Bettinelli, partner at TCG, added: “We are thrilled to be able to work with Tony, Jack and Gary as well as their amazingly talented team. Goalhanger is truly one of the world’s most compelling emerging media businesses and we can’t wait for the rest of their historical journey.”