Wasserman Media Group Acquiring Gary Stevenson's OnSport
Wasserman Media Group is acquiring Raleigh-based consultancy OnSport in a deal that industry sources pegged at up to $25M, according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. OnSport's corporate, media and property expertise gives WMG a "formidable consulting group to challenge similar capabilities within Octagon and IMG," while WMG's athlete representation and sales capabilities "also complement OnSport, whose corporate clients include American Express, Nationwide Insurance, Nokia and Wachovia." The OnSport name "will disappear and the agency will become part of WMG's consulting practice." OnSport CEO GARY STEVENSON said, "I'm staying (as a WMG principal) and our name changes; other than that, it will be business as usual." In addition to Raleigh, OnSport employees will be in WMG's N.Y. and L.A. offices, and Stevenson also said that he will "install some people in WMG London." WMG Chair & CEO CASEY WASSERMAN said, "The deal makes so much sense that I don't think anyone will be asking why we did it. Gary's business will get geographic reach and we'll round out our businesses at the highest levels." Stevenson and Wasserman were partners in the original OnSport Strategies from June '01-July '02 (SPORTSBUSINESS JOURNAL, 6/25 issue).
EPIC ACQUISITION: In a sidebar, Lefton reports N.Y.-based LeadDog Marketing has acquired Atlanta-based sports and event management firm Epic, which has worked with events including the Olympics, FIFA World Cup and Pan Am Games. ALAN SHAW, who founded Epic in '96, will continue to serve as its Managing Dir. The company retains its name and becomes a LeadDog company (SBJ, 6/25 issue).
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