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WME Outlines Plans To Cut $151M In Costs Out Of IMG After Acquisition Deal Closes

04 / 14 / 14

INSIDE IMG: THE FINANCIALS Revenue By Division Year College Media & Entertainment Sports Total 2011 $331 ...

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Tags: William Morris Endeavor, IMG, Finance

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Learfield Sports Reportedly Up For Sale

Learfield Sports is “putting itself up for sale,” according to Josh Kosman of the N.Y. POST. Sources said that Learfield is working with N.Y.-based investment bank Moelis & Co. and is "just kicking off its sale process.” A source said that the company is “seeking a 10 tim ...

Tags: Finance

Van Wagner Sports Invests In CineSport

Marketing and sales outfit Van Wagner Sports & Entertainment has made a low seven-figure, minority equity investment in CineSport, a New Jersey-based online sports video company. CineSport, founded and run by former NBA exec Gregg Winik, provides video content to many local and national news org ...

Tags: Finance

Puma Reports Decline In Q1 Earnings

Puma cut its revenue and profit forecasts for this year after reporting Q1 earnings that "trailed analysts’ estimates" and now "expects a low-to-mid-single digit decline in currency-adjusted sales," according to Andrew Roberts of BLOOMBERG NEWS. The stock "fell as much as" 3.5% in Frankfurt t ...

Tags: Finance, Puma

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.

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

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

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

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

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

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

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