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"We won the championship. We're drinking champagne, but we have 14 guys grinding it out at a ballpark trying to watch it on their cell phones. They are the ones missing birthdays and their son's first Little League game" – Nationals President of Baseball Operations & GM Mike Rizzo , ...

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05/08/13
ESPN Helps Boost Disney's Q2 Income

Disney 's "massive jump in net income” in Q2 was “lifted by the performance of its media networks, movie studio and theme parks,” according to Daniel Miller of the L.A. TIMES. The company's Q2 net income of $1.51B is “up 32% from a year earlier,” while its revenue rose ...

Tags: Finance, ESPN, Walt Disney Co.

05/07/13
IMG Reportedly Rejected $2B Bid

IMG this year "drew an unsolicited bid" of more than $2B from California private equity firm Colony Capital, according to sources cited by Gelles, Edgecliffe-Johnson & Garrahan of the FINANCIAL TIMES. Colony's bid was "dismissed because Forstmann Little plans to run an auction so as to obtain th ...

Tags: Finance, IMG

05/01/13
SMI Reports Loss Of $1.3M For Q1

SMI today reported a loss of $1.3M for the start of the year and said the economy continues to weaken its revenue. The company, which manages eight NASCAR tracks, reported total revenue for Q1 of $84.2M, down slightly from the $84.8M it reported for the same period last year. SMI saw ...

Tags: Finance

04/26/13
Callaway Golf Sees $42M Q1 Profit

Callaway Golf "swung to a larger profit in the first quarter compared with last year, thanks in part to restructuring and earlier product launches," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway posted sales of $288M and a profit of $42M, or 47 cents per share in Q1. That is "up ...

Tags: Finance, Callaway Golf

04/22/13
UA Exceeds Q1 Earning Expectations

Under Armour delivered "better than expected financial results for the three months ended March 31," according to Chris Korman of the Baltimore SUN. The company's 7 cents per share income "topped analysts’ consensus estimates of 3 cents a share" as its revenue jumped 23%. UA continues to work ...

Tags: Finance, Under Armour

04/16/13
IMG Golf Acquires IGP S&E

IMG Worldwide yesterday announced the acquisition of IGP Sports & Entertainment Group. The acquisition will see IGP’s properties, including management of the PGA Tour Honda Classic, and its staff led by President & CEO Ken Kennerly, join IMG’s Golf division immediately. Kennerly ...

Tags: IMG, Finance

04/11/13
Sources: CAA Prepping Bid For IMG

CAA is working with N.Y.-based boutique investment bank LionTree Advisers and UBS "on a possible bid for powerhouse sports agency IMG Worldwide," according to sources cited by Rachel Abrams of VARIETY. Private equity firm Forstmann Little, which "started prepping" IMG for a sale last year, has "stro ...

Tags: Finance, IMG

04/09/13
IMG Memo: Do Not Discuss Company's Sale

IMG General Counsel John Raleigh sent a memo to staff last Friday, telling all employees that they are not to discuss the company’s pending sale. Raleigh wrote that the sale is to be left to Forstmann Little, which is overseeing the process, and discouraged employees from fielding inquiries fr ...

Tags: Finance, IMG

04/08/13
Vinik Sees Hedge Fund Take Hit

Investors have “asked to pull around $1.5 billion” from the hedge fund firm headed by Lightning Owner Jeff Vinik “after a period of poor performance,” according to sources cited by Juliet Chung of the WALL STREET JOURNAL. The withdrawal requests “amount to around 18% of ...

Tags: Finance

04/05/13
Mandalay Baseball Properties Stake For Sale

Seaport Capital, which includes a majority stake in Mandalay Baseball Properties, is “selling its share of the holding company that owns five minor-league baseball teams, including half" of the Yankees’ Triple-A affiliate, according to Scott Soshnick of BLOOMBERG NEWS. Game Plan Chair Bo ...

Tags: Finance, Mandalay Sports Entertainment

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