Wasserman Media Group has received a $100M "investment from Silicon Valley-based Madrone Capital Partners," an investment group funded by the Wal-Mart-founding Walton family, according to Tripp Mickle of SPORTSBUSINESS JOURNAL. The investment is "the second that Wasserman Media Group has taken since its inception" in '02. The organization received a $25M investment from N.Y.-based Highbridge Capital Partners in '12 that valued the company between $225-250M. WMG Founder Casey Wasserman "bought out Highbridge’s stake in the company late last year." Sources said that Wasserman under terms of the investment "will remain the majority shareholder of the company." Madrone Capital, which is led by Wal-Mart BOD Vice Chair Greg Penner, "will have a seat on the Wasserman Media Group board." It is "unclear what the total value of Wasserman Media Group is" based on the $100M investment from Madrone. The sports and entertainment company "plans to use the investment to fund organic growth and acquisitions." Sources said that it is "eyeing opportunities both in the U.S. and globally in markets such as South America and Europe" (
SPORTSBUSINESS JOURNAL, 9/15 issue).
