Penske Media to launch sports biz publication Sportico

Penske Media Corp. said Thursday that it would launch a sports business publication called Sportico.

It will launch this summer and have offices in New York and Los Angeles.

Its editor and head of content will be Scott Soshnick, a former Bloomberg News sports business reporter. The president and CEO will be veteran sports and entertainment executive Dick Glover.

“There couldn’t be a better team than Dick and Scott to launch Sportico and provide the leadership needed to create a successful digital media business,” said Penske CEO Jay Penske in a statement. “The strength of PMC’s financial standing allows us to be in perfect position to launch and rapidly expand this new venture at this unique time.”

Soshnick spent the past 27 years at Bloomberg News and established himself as the one of the nation’s leading and most respected sports business reporters. Most recently, he was responsible for spearheading Bloomberg’s sports business coverage and co-hosted a “Business of Sports” radio show and self-created podcast.

In addition to his reporting, Soshnick was intricately involved in the creation and execution of Bloomberg’s power lunch series that featured commissioners, owners, media executives, bankers, attorneys, investors and more.

Penske’s other publications include Variety, Rolling Stone and WWD.