ESPN president James Pitaro. Photo: courtesy Beatrice Moritz for Axios
Mere hours after ESPN sold its majority stake in the X Games, the sports network's president Jimmy Pitaro said the decision came down to resource allocation during the BFD Summit on Wednesday.
Why it matters: ESPN launched the X Games in 1995 but is shifting to focus more resources on growth areas like sports betting, while at the same time maintaining top-tier sports rights that are only getting more expensive.
