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Thrive Eternal acquires minority stake in Giants.

4/25/2026

23 2 Full Breakdown

Summary

Story summary

Joshua Kushner announced that Thrive Eternal will acquire a minority, non-controlling stake in the San Francisco Giants.
Shana Daum confirmed the deal as a long-term partnership.
The investment is its first and targets cultural assets technology cannot replicate.
Bob Iger returned as an adviser to guide the effort.
The Giants are $4.05 billion, generated $477 million in 2025 revenue, and sold a 10% stake to Sixth Street in 2024.

History

Historical Context

The 1999 formation of YankeeNets let Goldman Sachs take a 40% stake in the YES Network, an early private-equity move into MLB media. Later, News Corp bought a 49% stake in YES in 2012 and the 2019 $3.5 billion reacquisition of the network reinforced the trend, now reflected in Thrive Eternal’s 2024 minority purchase of the San Francisco Giants.

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Story summary

Joshua Kushner announced that Thrive Eternal will acquire a minority, non-controlling stake in the San Francisco Giants.
Shana Daum confirmed the deal as a long-term partnership.
The investment is its first and targets cultural assets technology cannot replicate.
Bob Iger returned as an adviser to guide the effort.
The Giants are $4.05 billion, generated $477 million in 2025 revenue, and sold a 10% stake to Sixth Street in 2024.

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