Gametime Closes On $13.3M VC Funding Tribune Media Bullish On MLB Ratings Morgan Stanley Offers Loans To NFL Draftees CBS Quarterly Profits Up, But Revenue Down Puma's Profits Fall 30% In Q1 Disney's Q2 Income Up Despite ESPN Costs Adidas' Net Profits Rise In Q1 Stats LLC Acquires U.K.-Based Prozone Aussie Social Media Company Buys Into BigTeams Callaway Profits Beat Q1 Expectations
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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).