Van Wagner Sports Invests In CineSport Puma Reports Decline In Q1 Earnings ESPN Helps Boost Disney's Q2 Income IMG Reportedly Rejected $2B Bid SMI Reports Loss Of $1.3M For Q1 Callaway Golf Sees $42M Q1 Profit UA Exceeds Q1 Earning Expectations IMG Golf Acquires IGP S&E Sources: CAA Prepping Bid For IMG IMG Memo: Do Not Discuss Company's Sale
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SBD Article Published May 17, 2013 by Eric Fisher
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 organizations. Van Wagner in particular will aid in developing an enlarged sales force for the company. Van Wagner execs said they will attempt to package CineSport's online advertising inventory with a b...
SBD Article Published May 14, 2013
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 trading today, the "biggest drop in three months." Puma is cutting costs to "combat a decline in footwear sales while working to boost its performance-wear credentials." Puma said that Q1 earnings before ...
SBJ Article Published May 13, 2013 by Daniel Kaplan
The San Francisco 49ers plan to refinance their $850 million of stadium debt obligation in... ...f internal revenue forecasts that the 49ers can refinance well before the debt’s 2015 maturity. ...Still, at that time, the team did not expect to refinance until it was playing in the new stadium.Greg Carey, chairman of Goldman Sachs’ public finance department, said the main reason the 49ers are lo... oking to refinance is favorable market conditions.
SBD Article Published May 08, 2013
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 10% to $10.55B. Disney's Media Networks Group, which includes ABC and ESPN, posted "an operating income” of $1.86B, up 8%, with revenue rising 6% to $4.96B. Disney “partly attributed the gain in the cable business to increased ...
SBD Article Published May 07, 2013
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 the highest price for IMG." The Colony offer was "made in co-operation with funds linked to the Qatari royal family." Colony Founder, Chair & CEO Tom Barrack "worked with the Qataris on a bid for AEG." P...
SBD Article Published May 01, 2013 by Tripp Mickle
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 decreases in ticket sales and event-related revenue, which includes sponsorship sales, suite rentals, merchandise and concessions. Ticket sales fell to $21.7M from $22.4M last year and event-related revenue fell ...
SBJ Article Published April 29, 2013 by By Ben Fischer, Correspondent
Former Monumental Sports & Entertainment executive Greg Bibb has launched a venture capital fund targeting sports and lifestyle properties, with backing from veteran sports investor Fred Schaufeld’s SWaN and Legend Venture Partners. Capital Sports Ventures’ leadership (from left): Greg Bibb, Christopher Browne and Fred Shaufeld Photo by: JOANNE S. LAWTON Bibb’s new fund, Capital Sports Ventures,...
SBD Article Published April 26, 2013
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 from revenue" of $285M and earnings of 37 cents a share for the same quarter last year. Wall Street analysts "had forecast" $284.5M in sales and earnings of 21 cents a share for Q1. Callaway Presi...
SBD Article Published April 22, 2013
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 to "broaden its brand’s appeal with consumers, focusing on women’s apparel and shoes." UA Founder, President & CEO Kevin Plank attributed the growth to "several factors, including the brand holiday and ...
SBD Article Published April 16, 2013
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 will head up IMG Golf's North American events division. IMG Golf also will open a new office in North Palm Beach, Fla. (IMG). In West Palm Beach, Hal Habib notes Kennerly and IMG Golf Global co-Managing Dir Guy Kinnin...
SBJ Article Published April 15, 2013 by Daniel Kaplan
The Miami Marlins are trying to refinance $165 million and borrow an additional $10 million... ...rrent loan deal expires in the coming months, the finance sources said, though they added that default is u... “That is a tough sell,” said one finance source, who requested anonymity because he did no...
SBD Article Published April 11, 2013
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 "strong ties with Goldman Sachs, with whom it has been holding discussions for several months." Forstmann also has "been in discussions with one other investment bank about the sale." LionTree, launched...