Cuban Expands Empire, Purchases Belo's Stakes In Mavs, Arena
 Belo Corp. said yesterday that it has sold its minority stake in the Mavericks and American Airlines Center (AAC) to Mavericks Owner Mark Cuban, according to Richard Alm of the DALLAS MORNING NEWS. Belo said that it would receive $27M for its 12.38% share of the Mavericks and its 6.19% stake in the AAC. Belo announced in July '99 that it had paid $24.5M to become part-owner of the Mavericks. As part of the deal, Cuban and Belo "signed a comprehensive marketing agreement that commits" Cuban and the Mavericks to "increase their advertising in Belo-owned properties in Dallas." Belo Senior VP, General Counsel & Secretary Guy Kerr "declined to provide" financial figures of the deal. Kerr also said that Cuban "can satisfy his commitment with advertising from his businesses other than" the Mavericks. Meanwhile, Alm reports that Belo withdrew a lawsuit it had filed in November '00 against Cuban that alleged Cuban "reneged on an agreement to purchase the Belo stake under the same financial terms offered" to former Mavericks Owner Ross Perot Jr. Kerr said, "We did realize a gain on the sale, and we're satisfied we were able to reach closure and move on" (DALLAS MORNING NEWS, 1/31).
FRIEND OR FOE? NBA Commissioner David Stern appeared on CNBC's "Squawk Box" this morning and was asked if Cuban is a problem for the league. Stern: "Mark is truly a media star in the making. He's been very good for basketball in Dallas, and as he says, he's an owner with nothing to do but own his team. That's a commissioner's dream, and sometimes a commissioner's issue. I think he's very good for Dallas. I think that he has a little bit of a different view about whether the 29 owners, and, as a result, I, should follow exactly what he wants to do, and I can't do that. And when he becomes vociferous on that, I have to discipline my boss, Mr. Cuban, because that's part of my job" (CNBC, 1/31).
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