The Dodgers and News Corp.'s Fox group received
permission from MLB's Ownership Committee yesterday to sign
the purchase agreement, and both parties have done so. The
agreement is subject to approval by MLB owners, and is
scheduled to be an agenda item at the owners' meeting next
week in St. Petersburg, FL. Upon completion of the sale to
the Fox group, the Dodgers also announced that Exec VP Bob
Graziano will be named Dodger President & CEO, and current
President Peter O'Malley will become Chairman of the Board.
Graziano will report to the Fox group, while O'Malley will
report to the Board of Directors (Dodgers).
DETAILS: In L.A., Newhan & Hiltzik place the deal,
which includes the Dodgers, Dodger Stadium, the team's
Dodgertown spring training facility and its facility in the
Dominican Republic, at "roughly" $311M. They add that Fox
and News Corp. agreed to "comply" with MLB rules that say
the commissioner's office will oversee a team's marketing
potential in Asia and other overseas markets. Fox is also
"under no obligation to sell any part of its interest" in
the Dodgers to TCI's Liberty Media. While "the extent of
Graziano's authority remains unclear," O'Malley said his
commitment to serve as team Chair extended only to the end
of the year. Newhan & Hiltzik: "Signs are that his role
will chiefly be to give the team an aura of leadership
continuity during the transitional period" (L.A. TIMES,
3/13). Also in L.A., Jason Reid reports that the O'Malley
announcement caught Dodgers employees "by surprise. They
had thought nothing would occur until the owners voted on
the sale" during next week's meeting's (L.A. TIMES, 3/13).
USA TODAY's Hal Bodley reports that with News Corp. CEO
Rupert Murdoch creating "his management team" in L.A., the
Dodgers sale "isn't in danger" (USA TODAY, 3/13).
NO ACTION ON HICKS: The pending sale of the MLB Rangers
to Tom Hicks will not be voted on during next week's owners'
meeting. Rangers President Tom Schieffer: "There are a lot
of issues for them to deal with, and that takes time. The
process is going well" (DALLAS MORNING NEWS, 3/13).
