Stagwell Taps Sports Veteran Rachel Jacobson to Lead ReachTV

2026-04-28 companies

New York, Tuesday, 28 April 2026.
On April 28, 2026, Stagwell named sports executive Rachel Jacobson CEO of ReachTV. Tasked with driving growth, she previously scaled the Drone Racing League to 100 million global fans.

A Strategic Pivot for Stagwell’s Owned Media

The executive transition, officially announced on April 27, 2026, places Jacobson under the direct supervision of Ben Berentson, the recently appointed Chief Executive Officer of Stagwell’s Owned Media division [1][2]. She succeeds Lynnwood Bibbens, who founded ReachTV a decade ago and will now step into the newly created role of Founder and Executive Chair [1][3]. Bibbens expressed pride in the company’s historical growth, noting his ongoing commitment to building its future alongside airport, agency, and sports league partners [1].

Scaling the Commercial Footprint

Jacobson brings more than three decades of experience to the role, with a mandate to scale ReachTV’s commercial footprint and deepen its premium content partnerships [1]. Her extensive resume includes a 21-year tenure at the National Basketball Association (NBA), where she ultimately served as Senior Vice President of Business Development and played a pivotal role in launching the WNBA [2][8]. After departing the league in 2017, she served as Chief Business Development Officer at the women’s career platform Landit before taking the helm as President of the Drone Racing League (DRL) [2]. At DRL, she was credited with building the commercial infrastructure that scaled the league’s global audience to 100 million fans [1][2]. Her industry recognition includes being named a Sports Business Journal Forty Under 40 honoree in 2010 [3][4].

Navigating Financial Projections and Market Expectations

The strategic emphasis on owned media properties like ReachTV comes at a critical juncture for Stagwell’s financial trajectory. The company has set ambitious financial targets for 2028, projecting US$3.4 billion in revenue and US$363.8 million in earnings [6]. This implies an annual revenue growth rate of 6.4 percent and a substantial earnings swing of approximately US$365 million from its current deficit of US$1.7 million [6]. To further support shareholder value, the company recently announced a US$350 million increase to its ongoing share repurchase program, bringing the total authorization to US$725 million [6]—an increase of 93.333 percent from its prior US$375 million limit.

Sources

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