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Time Warner Cable To Carry SEC Network As Of Aug. 14 Launch

Published in SportsBusiness Daily on 07 / 24 / 14

Time Warner Cable, the country's second biggest cable operator, has agreed to carry SEC Network as of its Aug. 14 launch. Bright House Networks also will carry the channel, bringing its distribution footprint up to 60 million homes. The deals leave DirecTV, Charter and Verizon as the only big SEC-ar...

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01/03/14
WME Faces Daunting Task In IMG Acquisition

Skeptics in Hollywood believe WME and Silver Lake "vastly overpaid" for IMG, while some "predict a massive learning curve" for WME co-CEOs Ari Emanuel and Patrick Whitesell as they "grapple with more than a dozen businesses in 30-plus countries," according to Sun & Masters of the HOLLYWOOD REPOR ...

Tags: Finance, IMG, William Morris Endeavor

12/20/13
IMG Acquisition Could Take Up To Six Months

William Morris Endeavor’s acquisition of IMG will take three to six months to complete. During that time, IMG will continue to operate as an independent company. WME co-CEOs Ari Emanuel and Patrick Whitesell are slated to run the business after the deal is completed. They plan to continue to u ...

Tags: IMG, Finance

12/20/13
Nike Q2 Profit Rises 40%

Nike's Q2 profit "jumped 40%, with a surge in Western Europe sales, as well as growth in North America and greater China, helping to drive" results, according to Michael Calia of the WALL STREET JOURNAL. The company for the quarter ended Nov. 30 "reported a profit of $537 million, or 59 cents a shar ...

Tags: Finance, Nike

12/19/13
WME Execs To Meet With IMG College

Sources said that William Morris Endeavor co-CEOs Patrick Whitesell and Ari Emanuel are expected to visit IMG College HQs in Winston-Salem, N.C., today to see the operation and meet further with IMG College President Ben Sutton. The most immediate question facing WME in the aftermath of its $2. ...

Tags: Finance, William Morris Endeavor, IMG

12/19/13
WME CEOs Diving In At IMG

William Morris Endeavor co-CEOs Ari Emanuel and Patrick Whitesell were "spotted making the rounds Wednesday at IMG Models -- as well as at IMG-owned division Art + Commerce, which reps fashion fotogs Steven Meisel and Patrick Demarchelier, among others," according to the N.Y. POST's Page Six ( ...

Tags: Finance, IMG

12/19/13
Industry Leaders Discuss IMG Sale

After the IMG sale to William Morris Endeavor was announced, a number of sports execs talked to Editor-at-Large Terry Lefton about what it means. The following are excerpts, and see our On The Ground blog for more. * Octagon President & CEO Rick Dudley : "The departure of key people is a con ...

Tags: Finance, IMG, William Morris Endeavor

12/18/13
WME, Silver Lake Announce Acquisition Of IMG

William Morris Endeavor and Silver Lake Partners today announced the acquisition of IMG Worldwide from Forstmann Little & Co. Terms of the deal were not disclosed but sources valued the purchase at $2.4B. The deal immediately turns WME into a major player in sports by adding IMG's sports consult ...

Tags: Finance, IMG

12/18/13
IMG Sale Comes With "Hefty Amount" Of Debt

The price paid by William Morris Endeavor and Silver Lake to purchase IMG "is far below" the $2.7B initially sought by Forstmann Little, and the deal "comes with a hefty amount of debt" in the neighborhood of $750M, according to Cynthia Littleton of VARIETY. But the acquisition is "transformative fo ...

Tags: Finance, IMG, William Morris Endeavor

12/16/13
IMG Sales Process Enters Final Stage

The three final bidders for IMG submitted binding offers for the company on Friday, pushing the company's sales process into its final stage. Sources familiar with the process said Forstmann Little trustees and bankers with Evercore and Morgan Stanley are evaluating offers from three groups: CVC Cap ...

Tags: IMG, Finance

12/13/13
Aramark's Shares Rise 13.5% Following IPO

Aramark's shares "rose" Thursday after the concessionaire earned $725M in its IPO, according to the AP. The company "priced 36.25 million shares at $20 per share, the low end of its expected range of $20 to $23." Shares rose $2.70, or 13.5%, to close at $22.70. Aramark "sold 28 million shares and pl ...

Tags: Aramark, Finance

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