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Sources: VF Corp. To Sell Its Sports Licensing Group To Fanatics, Likely "Within Weeks"

Published in SportsBusiness Daily on 03 / 27 / 17

NFL owners later today at meetings in Phoenix are scheduled to vote on proposals surrounding the transfer of the NFL business held by VF’s Licensed Sports Group (LSG) to Fanatics. Sources said this means VF is close to selling its licensing business to Fanatics, and the sale should be official...

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Tags: Finance, Majestic Athletic, VF Corp.

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AT&T Reaches Deal To Acquire Time Warner For $85B

Time Warner Chair & CEO Jeff Bewkes over the weekend agreed to sell the company to AT&T for $85B in a deal that, if approved by regulators, will "vastly reshape the media and telecommunications world -- and ultimately the way Americans will consume and pay" for TV, according to Andrew Ross S ...

Tags: ATT, Finance

Dick's Wins Auction For Golfsmith's U.S. Business

Dick's Sporting Goods on Friday "teamed up with liquidators" and won a "bankruptcy auction" for the U.S. business of Golfsmith with a bid of about $70M, according to sources cited by Jessica DiNapoli of REUTERS. The sources said that Dick's plans to "keep open at least 30 Golfsmith stores and wind d ...

Tags: Dicks Sporting Goods, Golfsmith, Finance

StubHub Sees 32% Revenue Growth For Q3

StubHub during its Q3 that ended Sept. 30 generated $263M in revenue, up 32% from the comparable period last year, and $1.1B in gross sales, up 23%, according to earnings released late yesterday by corporate parent eBay. Baseball was credited for the growth at the ticket resale marketplace, along wi ...

Tags: Finance, StubHub

AlphaDraft To End Paid Contests After Friday

FanDuel-owned fantasy e-sports site AlphaDraft on Friday is "shutting its doors," and it is unclear at this point if the site will "shut down entirely, or attempt to pivot to another aspect" of the e-sports industry, according to Callum Leslie of the DAILY DOT. AlphaDraft will "cease ...

Tags: Finance

Upcoming IPO Will Value Acushnet At $1.7B

Next week's IPO on the NYSE for Massachusetts-based Acushnet Holdings, the maker of Titleist golf equipment, will "peg the market value" of the company at around $1.7B, according to Dan Adams of the BOSTON GLOBE. The offering is expected to raise roughly $435M "with the sale of 19.3 million sha ...

Tags: Titleist, Finance, Golf

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

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Tags: Finance

Four Final Bids Emerge In Learfield Sale

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Tags: Finance

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.

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