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SBD/June 12, 2013/FinancePrint All
Learfield Sports is “putting itself up for sale,” according to Josh Kosman of the N.Y. POST. Sources said that Learfield is working with N.Y.-based investment bank Moelis & Co. and is "just kicking off its sale process.” A source said that the company is “seeking a 10 times or better EBITDA multiple.” A source said that the reasons for the sale are the “ever higher prices of rights deals and the possibility that the 38-year-old company was getting priced out of the market.” Kosman notes the SEC in recent weeks “bought back television rights from Learfield and signed a 20-year deal with ESPN in which the network will sell a bundled package of TV, digital and syndication rights in the new SEC Network” (N.Y. POST, 6/12).