exclusive
The billionaire owners of the Nets and Liberty plan to launch a media brand around the 'zeitgeist of Brooklyn' in 2025
Lucia Moses
2024-12-11T12:00:02Z
NEW YORK, NEW YORK - OCTOBER 01: Joe Tsai and Alex Tsai attend Las Vegas Aces v New York Liberty game at Barclays Center of Brooklyn on October 01, 2024 in New York City. (Photo by James Devaney/GC Images)
Joe Tsai attends a New York Liberty game at Barclays Center. James Devaney/GC Images
The billionaire owners of the Nets and Liberty are hatching a media brand rooted in Brooklyn culture.
BSE Global plans to launch a new brand in early 2025, focusing on the "zeitgeist of Brooklyn."
The venture has money and expertise but faces a tough digital-media climate.
A trio of billionaires is looking to turn "Brooklyn" into a media brand in the vein of the youth and pop-culture outlet Complex.
Details have been trickling out in the New York media scene about moves by BSE Global — the parent company of the Brooklyn Nets, New York Liberty, and Barclays Center — to build an expansive media and entertainment company.
BSE plans to launch the new global media brand in early 2025 with a focus on "capturing and sharing the zeitgeist of Brooklyn," spokesperson Sheerin Salimi confirmed to Business Insider.
The money behind BSE comes from Alibaba cofounder Joe Tsai and his wife Clara Wu Tsai, along with Julia Koch. Koch, the widow of billionaire and conservative megadonor David Koch, bought 15% of BSE Global in June in a deal that valued the company at $6 billion.
Five people with direct knowledge of BSE's media plans described grand ambitions, saying the company envisions building a brand that is rooted in Brooklyn culture but can travel nationally and even globally. These people were granted anonymity to talk about confidential plans; their identities are known to BI.
Salimi confirmed to BI that the project is being called "Brand X" internally. One of the people with direct knowledge of BSE's plans said one potential name floated was "Boom," though Salimi said this is not currently under consideration.
Salimi said BSE is building complementary businesses alongside its teams and Barclays Center that tap into Brooklyn's spirit through sports, fashion, food, music, and the arts.
Basketball star Breanna Stewart attends a New York City parade after the Liberty's championship win. Rob Kim/Getty Images
BSE has hired a slew of Complex veterans
BSE planted the seeds for a media push when it purchased in March the local outlet Brooklyn Magazine, which it renamed BKMag and relaunched in November.
"They're trying to be like the voice of Brooklyn," a second person with direct knowledge of BSE's plans said. "There's a national opportunity that doesn't exist with Brooklyn Magazine. People name their kids Brooklyn."
BSE has explored several different approaches and considered building or buying a collection of lifestyle titles. The second person with direct knowledge of BSE's plans said the company also looked at buying Complex to accelerate its plans.
Under CEO Sam Zussman, a veteran of sports and culture agency IMG, BSE has brought on at least five Complex veterans. He also hired former longtime Complex CEO Rich Antoniello as an advisor.
Complex was started in 2002 by streetwear designer Marc Ecko and became a rare digital media success story, helped by its influence on youth culture and its long-form video series on YouTube. It spawned a festival called ComplexCon, product lines, and other ventures.
BuzzFeed acquired Complex in 2021 for $300 million and sold it in early 2024 to the e-commerce company NTWRK for about a third of what it originally paid. BuzzFeed kept Complex's food vertical, First We Feast, best known for its popular video series "Hot Ones."
BSE sees Brooklyn as a launchpad for ventures from wine to comedy
BSE's broad idea is to use Brooklyn's cultural capital to build a string of businesses spanning from hotels and music venues to wine, streetwear, and media. As part of a $100 million plan to enhance the area, BSE recently opened two membership clubs at Barclays Center with luxury touches like velvet furnishings and specialty cocktails and has launched a wine club. BSE has also looked at doing a comedy tour, said a third person with knowledge of the company's media plans.
DeJuan Wilson, the leader of BSE's media operation, is pictured far right. Bryan Bedder/Getty Images for Endeavor
Overseeing the media effort is DeJuan Wilson, who joined BSE in February as its chief products and experiences officer. Wilson is a longtime marketer who's worked at Endeavor, Coca-Cola, Nike, and SoundCloud.
Along with tapping Antoniello, BSE has hired other Complex alums including Aia Adriano, Complex's former VP of content; Stefan Breskin, a former social media director; Zion Olojede, its former head of sports; Erika Turner, its former VP of programming and development; and Lucas Wisenthal, its former international content development director.
Digital media is a troubled sector
Digital media has faced major headwinds lately, as Big Tech companies have siphoned much of the digital ad spending and squeezed publisher distribution on their platforms.
Even with BSE's deep pockets and well-connected leadership, some of the people with direct knowledge of its plans were skeptical about how far its commitment to media would ultimately go. Some also noted that the city is already served by many established outlets like The New York Times, Vox Media's New York magazine, and smaller local outlets.
Still, BSE's roots in sports could be an important asset at a time when athletes and teams are becoming even more central to media and pop culture. BSE's New York Liberty women's basketball team just celebrated its first championship, and its mascot, Ellie the Elephant, has become a fashion icon in her own right. The NBA's Brooklyn Nets, meanwhile, has built a big global fan base, partly thanks to its willingness to play games abroad.
Other media companies have been built around sports teams. There's YES Network, a regional sports network that's home to the New York Yankees, Nets, and Liberty, all well as producing other sports-related content; and Sphere Entertainment's MSG Network, which carries New York Knicks games and other sports-themed programming.
"I think BSE realizes they have a really strong brand they can build stuff around right now," said a fourth person with direct knowledge of the company's media plans.