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Forstmann Emerges As The
Winning Bidder For IMG
N.Y.-based Forstmann Little & Co. Senior Founding Partner Ted Forstmann has agreed to buy IMG in a deal that could be announced to employees as early as today. The $700M sale price tops the $600M starting point set by Rothschild, N.A., which is handling the bids for the agency. The bid from IMG co-CEOs Bob Kain and Alastair Johnston was overwhelmed by Forstmann and others, and Forstmann’s relationships with IMG Founder Mark McCormack’s widow, Betsy Nagelsen, as well as agency client Vijay Singh, are seen as key to his win.
No Place Like Home
MLB today to announce Expos will relocate to DC.
On The Up & Up
Attanasio’s purchase of Brewers valued at $220M.
EA Sports opts not to extend title sponsorship of Talladega’s fall race.
Bound & Determined?
Debate ensues as to whether November referendum can void Candlestick naming-rights deal.
Hit The Sack
New “MNF” halftime feature panned, but segment retains greater share of audience compared to previous weeks.
Strong Out Of The Gate
D.G. Van Clief looks to implement immediate changes for NTRA and Breeders’ Cup.
Group sues to get giant sponsor signs removed from top of Seahawks’ stadium.
Pacers F Artest sees his marketability surge despite controversial reputation.
Hungry Like The Wolves
AHL club seeks to capitalize on NHL lockout by converting Blackhawks’ fans.
MGR Food Services bests Aramark, Centerplate to keep Georgia Dome concessions.
“People don’t want to be living in Tokyo or Times Square here.”
Attorney Knoll Lowney, who represents a group looking to remove the large Qwest signs from the Seahawks’ stadium (SEATTLE POST-INTELLIGENCER, 9/29).