EXCLUSIVE: Colin Cowherd opens up about selling The Volume, scaling back three-hour show, and retirement

EXCLUSIVE: Five years ago, Fox Sports host Colin Cowherd founded The Volume, a digital media and podcast network that includes shows with Richard Sherman, Sophie Cunningham, and rapper Fat Joe. The company has a chance to surpass $75 million in revenue this year and has emerged as one of the largest independently owned sports media companies in the industry.

This week, Cowherd joined OutKick for an hour-long discussion covering a range of topics, including the intersection of sports and politics, Donald Trump, religion, happiness, retirement, ESPN, and the future of his company.

Specifically, Cowherd addressed whether he plans to sell his media company, like Dave Portnoy, Bill Simmons, and others who have done so before him.

"We have had people interested," Cowherd told OutKick. "It would have to be the right fit."

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"It wouldn't necessarily have to be a broadcaster," Cowherd said about a potential buyer for The Volume. "I think I have enough knowledge in broadcasting that I can handle that side. I don't necessarily need guidance there."

"It would have to be something that works for our employees. Bobby, when it comes to The Volume, I don't lose sleep at night if I have a bad show. I lose sleep because I have 60 employees, and they have families.

"Any decision I make would have to involve a partner who understands that. It would have to be a partner that respects my executive team and respects our broadcasting ability. I'm not in a hurry to do it. Also, it's really fun having control.

Cowherd said he has sought advice from people in finance who have advised him to sell "only a small portion of the company."

"If I were going to sell, I don't know if I would sell all of it."

He also discussed the importance of a potential buyer having the right synergies.

"Synergies don't always work. I'll give you an example. Airline mergers usually work. You keep one executive team, and one of the airlines brings expanded routes. When Alaska and Virgin merged, that seemed to work. The consumer won.

"In media, I think Fox buying Roku has enough overlap that it's going to work. A lot of times I'll watch Fox and see what they do, their patterns, and their history. Lachlan is very aggressive in pursuing acquisitions.

"If I get the right synergy and they treat my employees right, we can talk and scale."

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If you ask most executives and agents in sports media, they would tell you that the three biggest needle-movers in the industry are Cowherd, Pat McAfee, and Stephen A. Smith, in some order. But that does not last forever.

In this industry, very few people go out on top. Most hang on far too long. Right now, Skip Bayless is playing a side character on Gilbert Arenas' podcast network. Rich Eisen and Dan Patrick are doing another podcast discussing their legacies in the 1990s.

We asked Cowherd how much longer he plans to do this.

"Well, I'm in my early 60s. I have two years left on my contracts [Fox Sports and iHeart]. I still think I have a fastball.

"I think maybe at some point, Bobby, instead of a three-hour TV show, which is a long television show, I scale it back. PTI is great, but think about this: it's a half-hour show. Multiply that by six, and I'm doing it mostly solo.

"I've talked to Fox about whether I should cut it down to two hours for my next contract. That's a possibility."

He then explained how retiring too early can cause people to age more quickly.

"I've read stories, Bobby, about people aging more quickly when they don't wake up with a mission or a purpose. And my wife does not want me around the house all day. She's got her life. She'd be like, 'You're following me around the house like a cat.'"

"So I don't think retirement is in the near term, but when that seven starts getting close as the first number, when I'm about 70, we're probably around the corner."