Moody's Gives WME IMG B2 Credit Rating CDI Net Income Drops 5% In '13 Bauer Purchases Easton-Bell Baseball/Softball Learfield Sports Acquires Nelligan Sports ISC Q4 Revenue Flat With '12 WME Faces Daunting Task In IMG Acquisition IMG Acquisition Could Take Up To Six Months Nike Q2 Profit Rises 40% WME Execs To Meet With IMG College WME CEOs Diving In At IMG
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Published February 27, 1998
FORBES' Peter Spiegel examines consolidation in the sports marketing business and writes that "small two- or three-lawyer shops" are an "endangered species." Spiegel: "Pushing the consolidations is the increasing role of corporate sponsorship. ... The big sports agencies offer their services to corporate clients looking to get themselves noticed by sports fans" (FORBES, 3/9 issue). NOTES: NSSN's Steve Mayer goes inside CART's planned IPO and reports "top" execs have been "granted substantial stock options." Among them: CART CEO Andrew Craig (600,000 shares), CFO Randy Dzierzawksi (300,000 shares), VP/ Logistics Dennis Swan (20,000) and VP/Competition Kirk Russell (40,000). At an offering of $15 a share, Craig has the option to purchase $9M of CART shares (NSSN, 2/25). ...TCI's TCI Gameco Holdings unit sold its 4.3 million-share stake in Acclaim Entertainment (WALL STREET JOURNAL, 2/27).