Former SC6 and His & Hers host Michael Smith is finally out of what Andrew Marchand once described as “gold plated purgatory.” Smith and Bristol have reached an agreement on a buyout of his 4 year, $10 million contract. Although he declined to provide details, Smith told Marchand that the buyout was “fair.”
Smith has already found a new role too. He will be the executive VP and chief content officer (Co)laboratory, a startup based in Hollywood. He described the company as “a studio and startup incubator that is going to bring together the best of Hollywood and the sports world.”
Michael had nothing negative to say about ESPN or his experience with the company on his way out the door. He did mention that he didn’t see much room for professional growth in the opportunities he was being presented at ESPN. Smith told Marchand that it was his excitement over the challenge and opportunity (Co)laboratory that motivated him to work on a buyout.
“I think what we are going to do for athletes and content creators throughout the industry when it comes to storytelling and when it comes to content development and distribution, it is going to be significant, impactful and disruptive. For me, personally, this has really been the career growth opportunity that I have been waiting for to really jump back in the game.”
Jemele Hill, Smith’s creative partner at ESPN, agreed to her own buyout 13 months ago. She is now writing for The Atlantic.
