Wasserman Receives $100M Investment New York State OKs Lawsuit Against RBS Stats LLC Buys Bloomberg Sports FanDuel Closes $70M Round Of Venture Capital SeatGeek Closes On $35M In VC Financing Golf Sales Cut Into Dick's Profits ClubCorp Acquires Sequoia Golf For $265M Disney Posts Record Q3 Despite ESPN CDI Earns Record Quarterly Revenue Adidas Cuts FY '14 Outlook, FY '15 Targets
Upcoming Conferences and Events
ROY DISNEY SELLS CONTROLLING STAKE OF L.A. GEAR
Published October 14, 1997
After years of "struggling to revive" L.A. Gear Inc., Trefoil Capital Investors L.P., one of Roy Disney's investment vehicles, has sold its 42% controlling interest in the company to CA-based PCH Investments, according to Kathryn Kranhold of the WALL STREET JOURNAL. Trefoil reportedly took "a substantial loss" on the deal, and that it's unclear whether Trefiol "even received the market value for the shareholding." Former L.A. Gear Chair Stanley Gold: "We've lost a substantial amount of money." Gold, and six of eight directors, "will resign immediately," and 36-year- old David Gatto, who joined L.A. Gear as CAO in June, will become Chair & CEO. Through the first six months of the year, L.A. Gear reported a net loss of $9.6M, or $.61 a share, on revenue of $63M (WALL STREET JOURNAL, 10/14).