The New York Times – Sports:
CVC Capital Partners, the former owner of Formula 1, will take a 20 percent stake in a commercial subsidiary as the tour seeks to expand its marketing of events and players and increase prize money.
Category: Mergers, Acquisitions and Divestitures
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JetBlue Expects U.S. Move to Block Merger With Spirit
The New York Times – Travel:
JetBlue said it saw a “high likelihood” of an antitrust suit by the Justice Department this week, but declared that the deal would foster competition.
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JetBlue and Spirit Unions Split on Airlines’ Merger
The New York Times – Travel:
Flight attendant unions at the two carriers are pushing in opposite directions as federal officials decide whether and on what terms to allow the deal.
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A Missed $140 Million Payment Sends Sports TV Negotiations Into Overdrive
The New York Times – Sports:
The owners of the regional television channels branded as Bally Sports have nearly $9 billion in debt and owe hefty rights fees to M.L.B., N.B.A. and N.H.L. teams. Now, they’re all on the clock to find a solution.
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Quality Control, Atlanta Rap Powerhouse, Sells to Scooter Braun’s Hybe
The New York Times – Music:
The acquisition is the famed music manager’s first major move at Hybe America — a division of the South Korean firm — since he became its sole chief executive last month.
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Ticketmaster Cast as a Powerful ‘Monopoly’ at Senate Hearing
The New York Times – Music:
The Judiciary Committee, responding to the bungled sale of Taylor Swift concert tickets, heard the company apologize and its critics trace the problem to the industry’s lack of competition.
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Mat Ishbia to Acquire Phoenix Suns and Mercury For $4 Billion
The New York Times – Sports:
Ishbia, the chief executive of United Wholesale Mortgage, would replace Robert Sarver as the majority owner. Sarver was pushed to sell amid a misconduct scandal.
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Charles Koppelman, Force in the Music Industry and Beyond, Dies at 82
The New York Times – Music:
A dealmaker and superstar matchmaker, he worked with artists like Barbra Streisand, Dolly Parton and Tracy Chapman. Later he was chairman of Martha Stewart Living.
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Manchester United Owners Consider Sale of Storied Club
The New York Times – Sports:
The Glazer family has hired advisers to weigh its options for the multibillion-dollar soccer club, which it has owned since 2005.