CVC Capital, Media Investor Peter Chernin Lead Bids For IMG Worldwide
Bids for IMG Worldwide have hit $2.7B, "topping initial expectations," according to Claire Atkinson of the N.Y. POST. A group headed by media investor Peter Chernin and CVC Capital has "recently tendered the highest bid." The 53-year-old agency "was thought to have a valuation" of around $2B. Chernin and CVC Capital, which owns F1 racing, "are partnered with two Middle Eastern Groups -- Abu Dhabi Investment Group and Mumtalakat" (N.Y. POST, 10/25).