Penske Media Corporation is branching out into sports.

The publisher of WWD, Variety and Rolling Stone is launching Sportico, a digital content platform providing sports industry news, data, information and live media.

“We are truly excited about becoming the preeminent information destination for the $500 billion sports industry,” said PMC chairman and chief executive officer Jay Penske. “This launch is consistent with Penske Media Corporation’s long record of success in business-to-business and consumer publishing ventures. Sports enables us to complement our technology, entertainment, art, music, fashion, media and lifestyle properties.”

Veteran sports and entertainment executive Dick Glover has been named president and ceo of the new venture, which will be based in New York and Los Angeles, while sports business reporter Scott Soshnick will serve as the platform’s editor in chief and head of content.

Glover comes from Mandalay Sports Media, where he served as president and ceo. He previously held positions at NASCAR, where he was vice president of broadcasting and new media, and at Walt Disney, where he managed ABC and ESPN’s Internet businesses, including ESPN.com, ABC.com, and ABCNews.com.

Soshnick spent the past 27 years at Bloomberg News, most recently spearheading Bloomberg’s sports business coverage, as well as cohosting a Business of Sports radio show and self-created podcast.

“There couldn’t be a better team than Dick and Scott to launch Sportico and provide the leadership needed to create a successful digital media business,” Penske added. “The strength of PMC’s financial standing allows us to be in perfect position to launch and rapidly expand this new venture at this unique time.”