Elliott Management is reportedly looking to sell a minority stake in AC Milan as it eyes "marketing and sponsorship" support. According to Milano Finanza, Elliott has given Unicredit a mandate to find an investor who can purchase 25%-30% of the club. Two investors have reportedly already been "sounded out," although there is "total privacy" with regards to their identities (FOOTBALL ITALIA, 11/13).
Mike Ashley’s Sports Direct will never be the "Selfridges of sport," according to a "damning verdict" by Berenberg analysts, which initiated coverage of the retailer with a "sell" recommendation on Monday, sending shares in the retailer down by almost 12%. Sports Direct dominates the British sportswear market. It reinforced its hold after JJB Sports "went bust" in '12 and by '14, it had double the market share of the second-placed JD Sports Fashion (LONDON TIMES, 11/13).
Activision Blizzard "beat expectations" for Q3 '18, ended Sept. 30, earning 34 cents per share. Activision's monthly active users increased to 46 million, up from 45 million, following Call of Duty's newest title release. Blizzard Entertainment's operating income grew 13% year-over-year as revenue growth offset the company's investment in the Overwatch League and other esports. Blizzard Entertainment accounted for $635M in net revenue for the quarter (THE ESPORTS OBSERVER, 11/12).
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