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Pegulas Acquisition Of AdPro Sports Marks Another Step In Diversifying Their Holdings

Published in SportsBusiness Daily on 08 / 22 / 17

Bills co-Owners Terry and Kim Pegula yesterday acquired a majority ownership stake in N.Y.-based AdPro Sports  and the company's President Ron Raccuia said the move will serve as "rocket fuel" for the branded merchandise firm, according to Matt Glynn of the BUFFALO NEWS. Raccuia: "It just give...

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Fed Reportedly Sees WME-UFC Deal As "Problematic"

Federal Reserve examiners in recent weeks have notified WME-IMG's lenders, Goldman Sachs and Deutsche Bank, that the way the agency was able to stay under federal lending guidelines for its $4B UFC purchase "could be problematic," according to sources cited by Hoffman & Wirz of the WALL STR ...

Tags: UFC, Finance

Providence To Make $425M From Sale Of Learfield

Providence Equity is "set to make" a $425M profit on the sale of sports marketing company Learfield to Atairos , according to documents cited by Matt Jarzemsky of the WALL STREET JOURNAL. The firm's sale of Learfield for $1.2-1.3B "represents a 2.9-times return" on a '13 investment ( WALL STREET J ...

Tags: Finance

Atairos Acquires Learfield For Undisclosed Price

Learfield on Saturday was acquired by N.Y.-based private investment firm Atairos, and while terms of the deal were not disclosed, the price tag was "expected to be between" $1.2-1.3B, according to Evan Hoopfer of the DALLAS BUSINESS JOURNAL. Atairos is an "independent private investment firm that la ...

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Four Final Bids Emerge In Learfield Sale

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 t ...

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ISC Reports 3% Revenue Increase For Q3

ISC released '16 FY Q3 results today for the period ended Aug. 31, with the results showing an increase in total revenue but another downtick in the admissions revenue category. ISC, which postponed today's scheduled earnings call in order to prepare for Hurricane Matthew, saw total revenue of $129M ...

Tags: Finance, International Speedway Corp.

ScoreBig Providing Order Sources Amid Financial Woes

Embattled ticket outlet ScoreBig has broken nearly a week of public silence in its ongoing financial crisis, telling brokers it does business with it is "deeply saddened by recent events" and is "sensitive to the impact on your business." ScoreBig confirmed comments by the National Association of Ti ...

Tags: Finance

Nike Shows Jump In Quarterly Sales

Nike yesterday reported an 8% jump in quarterly sales, but "slowing future demand for its sneakers and apparel fanned investors' concerns about the sportswear maker's growth prospects," according to Sara Germano of the WALL STREET JOURNAL. Nike's Q1 revenue was $9.06B as North American sales grew 6. ...

Tags: Nike, Finance

Gametime Adds $20M Round Of VC Financing

S.F.-based mobile ticketing company Gametime has completed a $20M round of Series B venture capital financing, raising its total capital raised to more than $33M. Existing investors such as Accel Partners, MLB Giants partner and Whitecaps co-Owner Jeff Mallett and Wasserman Media Group Chair & C ...

Tags: Finance

Drone Racing League Closes On $12M Financing

The Drone Racing League (DRL) yesterday said that it has secured another $12M in "financing led by RSE Ventures and Lux Capital," according to Joshua Terry of VARIETY. MGM has also "invested directly in DRL as part of the deal to develop TV programs and other content tied to the racing events and pi ...

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Sources: MSG Laid Off 60-70 Employees

MSG has "laid off scores of staff over the past two months as part of a previously announced restructuring," according to Claire Atkinson of the N.Y. POST. Sources said that between 60-70 staffers were "let go in July and a handful of others departed in August." MSG reported "a difficult three month ...

Tags: Finance, Madison Square Garden

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