Marciani Out As MLB VP/National Sales Hammon Headlines espnW's "Impact 25" St. Pete Denies Rays' Ballpark Search Deal Q&A With Blackhawks Chair Rocky Wirtz Angels, Red Sox Eliminate Pension Plans AHL OKC Barons To Cease Operations MLB Franchise Notes Cavs Happy With Ticket Lottery Process Rams' Move To L.A. Unlikely For '15 Cuba Decision Could Impact MLB
MLB APPROVES WALT DISNEY CO.'S BID TO ACQUIRE ANGELS
Published January 19, 1996
MLB announced yesterday that owners approved the Walt Disney Co.'s acquisition of a 25% interest in the Angels, effective March 18. Disney will also assume the role of managing general partner. The Angels will be a part of Disney Sports Enterprises Inc., joining the Mighty Ducks, acquired by Disney in December '92. Disney has the option to purchase the remaining 75% interest in the team at a later date, and the acquisition is contingent upon reaching a lease agreement with Anaheim in the next 60 days (Disney). Jan Hopkins reported Disney stock was up 1/4 to 59 3/4 after the news ("Moneyline," CNN, 1/18). Disney CEO Michael Eisner: "I just come from the theory that when everybody is talking bad about something that's basically good, it's the time to get into it" ("SportsCenter," ESPN, 1/18).