Learfield on Saturday was acquired by N.Y.-based private investment firm Atairos, and while terms of the deal were not disclosed, the price tag was "expected to be between" $1.2-1.3B, according to Evan Hoopfer of the DALLAS BUSINESS JOURNAL. Atairos is an "independent private investment firm that launched earlier this year" with capital from Comcast. The company "reportedly beat out a trio of other contenders" including Ft. Worth-based TPG Capital, which "made an offer" of $1.2B for Learfield. Providence Equity was the previous owner of Learfield and "acquired a majority stake in the company" in September '13. Moelis & Company "acted as financial adviser and Weil, Gotshal & Manges acted as legal adviser to Providence Equity in the transaction." For Atairos, Deutsche Bank "acted as financial adviser and Davis Polk & Wardwell and Latham & Watkins acted as legal advisers" (BIZJOURNALS.com, 10/8). THE HOLLYWOOD REPORTER's Tatiana Siegel noted Learfield President & CEO Greg Brown will "stay on Learfield's senior management team, who will all remain shareholders in the company" (HOLLYWOODREPORTER.com, 10/9).
