The Marquee Group has purchased ProServ, Inc. and
ProServ TV, Inc. for cash and stock in a transaction valued
at approximately $15M. The purchase will approximately
double the revenues of The Marquee Group. ProServ Founder
Donald Dell will remain the Chair & CEO of ProServ and
ProServ TV, as well as becoming a shareholder in Marquee and
joining its Board of Directors (The Marquee Group).
WHAT IT MEANS: In DC, Caitlin Liu writes that ProServ
"has been hit in recent years by the departure of some of
its senior executives and big-name clients," including David
Falk, who handles Michael Jordan, and former ProServ
President Jerry Solomon. Dell: "This combination will
enable ProServ to meet the growing requirements of
competitive sports in the international arena. It will
clearly provide all of our clients with the benefits of this
larger pool of resources." ProServ will remain based in
VA. Liu notes that the sale "comes on the heels" of the
acquisition of Advantage Int'l by the Interpublic Group.
Jeffrey Pollack, President & Publisher of The Sports
Business Daily: "The Marquee Group has now expanded its
portfolio as a diversified sports and entertainment company.
The acquisition of ProServ bolsters its roster of athletes,
its packages of TV production rights and its international
presence. From ProServe's standpoint, the deal is a
testament to the value of building a sports practice rich in
tradition and heritage" (WASHINGTON POST, 6/27).
