IS LIBERTY SPORTS SEEKING CONTROLLING INTEREST IN RAYCOM?
Published May 5, 1995
Raycom Inc. is negotiating a partnership with Liberty Sports, according to Erik Spanberg in the upcoming issue of the Charlotte BUSINESS JOURNAL. The deal would give Liberty Sports controlling interest of Raycom, according to people close to the talks. No terms have been disclosed and both Liberty and Raycom refused comment. Raycom is owned by Ellis Communications of Atlanta; Liberty is the sports programming arm of TCI. Independent media buyer Steve Auerbach, who has worked with Microsoft and Miller Brewing: "I've heard the rumors, and it seems like a logical merger to me. When you put the largest cable carrier with an established programmer you have the perfect match." If a deal can be struck, it would provide Raycom a "much larger potential market" for their programming. Liberty's interest "stems from the fact that Raycom would give it instant cache in the competitive network and syndication business" (Charlotte BUSINESS JOURNAL, 5/8 issue).