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Tonight's Events....

Published in SportsBusiness Daily on 07 / 31 / 14

NBC Sports hockey analyst Eddie Olczyk  will face off against fans in a shoot-the-puck competition at Horseshoe Casino in Indiana.

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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

11/25/13
Rant Sports Parent Closes $3M Round Of VC

Illinois-based Rant Media Network, parent company of open source sports journalism site Rant Sports, has closed on a $3M round of venture capital funding, led by Hudson Bay Capital and interClick co-Founders Barry Honig and Michael Brauser. The investor group has committed to supplying $5M in addit ...

Tags: Finance

11/22/13
KKR Withdraws IMG Bid

KKR has withdrawn its bid to buy IMG, reducing the total number of bidders for the company to three. Sources familiar with the process said the three finalists are the Carlyle Group; a consortium led by CVC Capital Partners and former News Corp. exec Peter Chernin; and a joint bid from William Morri ...

Tags: Finance, IMG

11/19/13
Bornstein, Shapiro Advising Competing Bids For IMG

NFL Network President & CEO Steve Bornstein is "playing a behind-the-scenes role in the auction of sports agency IMG by advising a bidders group headed by British money management firm CVC Capital Partners," according to Grover & Richwine of REUTERS. Sources said that Bornstein "would be a t ...

Tags: IMG, Finance

11/13/13
CAA Out Of Hunt For IMG

CAA and its partner TPG "did not make the cut for the second round of bidding" for IMG, according to Cynthia Littleton of VARIETY. Sources said that IMG's "rivalry in the sports representation and marketing business with CAA may have played a part in the latter getting axed from the process." CAA an ...

Tags: Finance, IMG

11/08/13
Disney Reports Higher Q4 Earnings

Disney for its Q4 "reported higher earnings despite declines at its media network group," according to Jon Lafayette of BROADCASTING & CABLE. The company's net income rose 12% to $1.4B, or $0.77 a share, from $1.2B, or $0.68 a share, a year ago. Disney saw "big gains" from its Parks & Resort ...

Tags: Finance, ESPN

11/08/13
Second Round Of Bids For IMG Were Due Thursday

The second round of bids to buy IMG were due Thursday, according to sources familiar with the company’s sales plan. A total of 10 prospective buyers sat through IMG management presentations in the last month, but it is unclear how many of the interested buyers submitted bids Thursday. Among th ...

Tags: Finance, IMG

11/07/13
Adidas' Q3 Operating Profit, Sales Drop

adidas today said that Q3 operating profit dropped 6% and sales fell 7%, "hit by distribution problems in Russia, currency effects and poor sales of golfing products," according to Victoria Bryan of REUTERS. Results during Q3 last year were "boosted by the Olympics and the European soccer championsh ...

Tags: Adidas, Finance

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