Former Blues CEO McCarthy will start media consulting business for The Legacy Agency
The Legacy Agency hired longtime sports executive Mike McCarthy to launch a media consulting business.
McCarthy, who left his post as CEO of the St. Louis Blues when the team was sold last year, will target teams, leagues and properties that need to develop strategies around their media rights.
Drawing on more than two decades at MSG Networks before joining the Blues, McCarthy also will oversee production and content creation for The Legacy Agency and plans to land on-air talent for the agency to represent.
“The appetite for content in sports is voracious,” McCarthy said.
Since the beginning of the year, McCarthy has been co-chairman of the TV production company Manhattan Place Entertainment, a position he will keep. The Legacy Agency believes that remaining co-chair of the production company will help McCarthy bring new business to the firm.
McCarthy will be based in New York at Legacy’s offices and will report to Mike Principe, CEO of The Legacy Agency.
“This is a great move for the development of The Legacy Agency,” Principe said. “I’ve known Mike for about 10 years. As we started thinking about launching a new media consulting business, Mike was my first phone call.”
The move to start a media consulting business puts The Leverage Agency in an already crowded field that includes companies like Evolution Media Capital and Bevilacqua Helfant Ventures as well as Wasserman Media Group and others. Principe believes the market is big enough — and McCarthy’s experience is vast enough — to build a significant media consulting business for The Legacy Agency.
“Before Mike, our first deal as a media consultant would have been our last,” he joked.
The current trend with media rights is to explore launching a sports channel, similar to what the Dodgers and Lakers are doing in Los Angeles, and the Astros and Rockets are doing in Houston.
McCarthy believes channels are a realistic option, but not in every market. While with the Blues, McCarthy oversaw the team’s decision to extend its deal with FS Midwest and moved the team’s radio rights to a station with a stronger signal.
“There are still teams that have a credible chance to launch their own RSNs,” McCarthy said. “Launching a channel is not always your best option. But it has to be considered to establish the best rights deal you can get.”