Genius Sports CEO defends $1.2B Legend acquisition strategy amid backlash

Genius Sports CEO Mark Locke is pushing back after investors rattled the company’s stock over its $1.2 billion deal for digital sports and gaming media network Legend. In a letter to shareholders released Wednesday (February 18), Locke argued the purchase marks a long-term strategic shift, not a quick play on affiliate traffic.

He conceded that Wall Street’s response has been uneven. Still, he told investors the skepticism feels familiar. In past years, he noted, major moves by Genius Sports...