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Disney Reports Cable Network Unit, Led By ESPN, Will Continue Growth For Three Years

04 / 18 / 14

Disney on Thursday indicated that profits at its "ESPN-dominated cable networks unit would grow in the 'high single digits' on a compounded annual basis for the next three years," according to Brooks Barnes of the N.Y. TIMES. It is "rare for Disney to provide public insight into its future earnings,...

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Tags: Finance, ESPN, Walt Disney

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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

04/01/13
Spire Looks To Sell JMI Stake

Spire Capital Partners is "shopping its majority stake in Indianapolis-based Just Marketing International, the motorsports agency that works across Formula One, NASCAR and IndyCar," according to Tripp Mickle of SPORTSBUSINESS JOURNAL. The private equity group, which bought 50% of the agency five yea ...

Tags: Finance

03/26/13
Li-Ning Reports Losses, Scales Back Operations

Chinese sportswear company Li-Ning reported “a deeper-than-expected annual loss, its first in nearly a decade as a listed company, but said its bottom line should improve this year as it scales back inventory and overhauls its image,” according to Chu & Burkitt of the WALL STREET JOU ...

Tags: Li Ning, Finance

03/22/13
Nike's Q3 Shows Drops In China

Nike on Thursday reported a 16% profit for its Q3 ending Feb. 28, but "a huge percentage of the company's discussion with stock analysts" focused on "a slowdown in China,” according to Allan Brettman of the Portland OREGONIAN. Nike’s growth in the country has been “on a torrid pace ...

Tags: Nike, Billabong, Finance

03/20/13
AEG Preps Acquisition Strategy

AEG Chair Philip Anschutz is “prepping a fresh acquisition strategy for AEG Worldwide,” according to Claire Atkinson of the N.Y. POST. Anschutz and his execs are “huddling to finalize a strategy on how best to grow AEG at home and abroad.” Sources said that the plan “co ...

Tags: Finance, AEG

03/06/13
SMI Sees Total Revenues Drop In '12

Declines in ticket sales, the loss of Infineon’s naming-rights deal in Sonoma and a reduction in Sirius’ radio rights fees pushed SMI’s total revenues down 3% in '12. The company still managed to generate a profit, largely because of a one-time loss of $48.6M it recorded in '11. SM ...

Tags: Finance, Speedway Motorsports Inc.

03/04/13
Dick's Sporting Goods Leading Sector

Dick's Sporting Goods, which operates 511 stores nationwide and has "enjoyed 17% sales growth, on average, for the past 10 years," is "leaving the competition in the dust," according to Christopher Williams of the WALL STREET JOURNAL. The company "has an 8.5% market share, ahead of rival Foot Locker ...

Tags: Dicks Sporting Goods, Finance

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