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Dustin Johnson Serving Suspension After Positive Cocaine Test

Published in SportsBusiness Daily on 08 / 01 / 14

Golfer  Dustin Johnson  is "serving a six-month suspension from the PGA Tour after testing positive for cocaine," according to a source. Johnson on Thursday announced that he was taking a leave of absence. Under the Tour's policies, it is not required to announce any disciplinary actions f...

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09/27/13
Nike's Q1 Sales Increase In Europe, North America

Nike's North American sales for its Q1 that ended Aug. 31 increased 9% to $3.1B, one of the "few recent quarters where sales in the geography were not up by double digits," according to Allan Brettman of the Portland OREGONIAN. Nike's North American region "had nine consecutive quarters of double-di ...

Tags: Finance, Nike

09/26/13
First Round Of IMG Bids Due Next Week

The first round of bids to buy IMG are due next week, according to sources familiar with the sales plan for the company. Buyers interested in acquiring the sports and entertainment firm have been asked to submit interest documents between Monday and Wednesday. Initial offers will be reviewed by a to ...

Tags: Finance, IMG

09/18/13
CVC Capital Plans Joint IMG Bid

F1 commercial rights holder CVC Capital has "joined forces" with Mumtalakat Holding Co., which is owned by the Kingdom of Bahrain, to "bid for IMG," according to Mark Kleinman of SKY NEWS. A source said that CVC would "form a consortium in which it would hold a 60% stake in IMG, while Mumtalakat and ...

Tags: Finance, IMG

09/16/13
KKR, New Mountain Pursuing IMG

Private equity firm KKR "has teamed up with New Mountain Capital LLC to bid for IMG," according to sources cited by Roumeliotis, Kim & Damouni of REUTERS. Sources said that KKR and New Mountain "would be competing for IMG" against talent firms CAA and William Morris Endeavor. While KKR "may not ...

Tags: Finance, IMG

09/11/13
Nike Added To Dow Jones Industrial Average

The addition of Nike to the Dow Jones Industrial Average is "a testament to the company’s ability to shrug off hard times and transcend its U.S. origins," according to Matt Townsend of BLOOMBERG NEWS. Nike "will join the 30-member gauge when the market opens on Sept. 23," along with Goldman Sa ...

Tags: Nike, Finance, Under Armour

09/11/13
Aramark Files For IPO To Pay Off Debt

Aramark has filed for an IPO for up to $100M in stock as the food-services company "looks to pay down debt," according to Michael Calia of the WALL STREET JOURNAL. It will be Aramark's third IPO. Aramark Chair Joseph Neubauer "led a buyout in 1984 to fight off a hostile takeover," and later "helped ...

Tags: Finance

09/10/13
ScoreBig.com Closes $10M Round Of Financing

Discount ticket-seller ScoreBig.com has closed a $10M Series C round of financing led by Checketts Partners Investment Fund (CPIF), which is run by Legends Hospitality Management CEO Dave Checketts. ScoreBig.com also has brought on long-time company advisor and former Ticketmaster exec David Goldber ...

Tags: Finance

08/19/13
Hillerich & Bradsby Obtains New Credit Line

Louisville Slugger parent company Hillerich & Bradsby said that it obtained a roughly $40M credit facility "from Wells Fargo on Aug. 2 after running into problems with its existing lender," according to Emily Glazer of the WALL STREET JOURNAL. The company is "trying to rebound from a series of m ...

Tags: Finance

08/08/13
Time Warner's Q2 TV Revenues Rise

Time Warner reported Q2 results yesterday, and the company's TV network revenue rose 6.8% to $3.84B, "boosted by an 11% increase in ad revenue," while operating profit rose 31% to $1.27B, according to Sharma & Chaudhuri of the WALL STREET JOURNAL. TNT "benefited from strong viewership of the NBA ...

Tags: Finance, Time Warner

08/07/13
ESPN Boosts Disney's Q3 Earnings

Disney reported its Q3 results yesterday, and while marketing costs for the film "The Long Ranger" "held back quarterly profits at the company," higher advertising fees at ESPN "helped lift earnings above analyst expectations," according to Matthew Garrahan of the FINANCIAL TIMES. Higher affiliate f ...

Tags: Finance, ESPN

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