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GOLF NEWS & NOTES: COBRA POOH-POOHS TAKEOVER TALK
Published September 14, 1995
At the PGA Int'l Golf Show, Cobra President Mark McClure "seemed exasperated" with talk of a possible purchase by American Brands. McClure said, "No comment. Next subject" when questioned on a possible deal. Also from Las Vegas, word is Head Sports Golf Division VP John Hoeflich, Sales Dir Wes Whittingham and Product Manager John Cable are "expected to buy the company's inventory. They will be looking for financing to continue operations." Head had stopped production due to money problems with parent, Head Tyrolia Mares (GOLF WEEK EXTRA, 9/14). American Brands is profiled by Suzanne Oliver of FORBES magazine. "Like the rest of the country, American Brands is giving up smoking and taking up golf." Michael Magerman, CEO at Tommy Armour Golf, is also featured in the current FORBES. His "mission" is to "jump-start" sales that are "dwarfed by competitors Cobra and Calloway. So far he has switched ad agencies and is exploring new channels of distribution" (FORBES, 9/25). ON THE AIR: NBC will begin selling commercial time for its broadcasts of the '96 PGA Tour, according to INSIDE MEDIA. and CBS will be seeking "renewal deals with the original sponsors" of their President's Cup broadcast. Several sports media analysts "foresee another robust golf marketplace ... fueled primarily by the manufacturers of golf clubs, balls, shoes and apparel." But some warn with the '96 Olympic Games, "money that traditionally heads golf's way may be derailed along the route." Buyers have "warned their network counterparts: If rates continue to rise too sharply, your three-plus golf ratings will look even more meager, and you may just price yourself out of a sale" (Brockinton & Reynolds, INSIDE MEDIA, 9/19 issue).