Four final bidders have emerged in the sale of Learfield: TPG Capital, Comcast’s Atairos, New Mountain Capital and Thomas H. Lee Partners. Final bids were due on Tuesday, and sources said a decision could come any day now. Learfield, which is currently owned by Providence Equity, is expected to sell for $1.2-1.3B. The TPG scenario stands out as perhaps the most intriguing because of its ownership of CAA. Sources said they were not sure if CAA Sports would merge with Learfield as one company if TPG won the bid, or if Learfield would operate independently. Either way, an acquisition by TPG would serve to deepen the already fierce rivalry between CAA and WME, which owns IMG. CAA Sports already owns collegiate licensing agency Fermata Partners (Michael Smith, Staff Writer). The HOLLYWOOD REPORTER's Tatiana Siegel noted if "successful, the deal would put TPG -- and thus CAA -- in direct competition" with WME, which also is "deep in the sports licensing business since the agency assumed control of sports and fashion powerhouse IMG" in a $2.4B deal in '14. It is a "bold, albeit eyebrow-raising move, considering that top CAA agents had criticized rival WME for its time-consuming focus on the business of sports licensing." After the WME-IMG marriage, WME-IMG co-CEO Patrick Whitesell "took the lead on the sprawling sports enterprise and spent a great deal of time away from Hollywood visiting colleges and keeping them in the fold" (HOLLYWOODREPORTER.com, 10/6).
