Rich Routman is a veteran of the sports media industry. He recalls how if an advertiser discussed a cost-per-action deal with a major sports media company as recently as five years ago, the media executives would "run out of the room." That all changed with the legalization of sports gambling in 33 states and the District of Columbia. A giant industry would need customers, and sports media was there to help. That's led the Sporting News, which Rich joined as CEO last year, to raise a $15 million Series A a mere 137 years after its founding. Rich and I discuss how TSN is generating 40% of its revenue from affiliate and revenue-sharing deals from sportsbooks and other subscription services.