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A group of investors acquires stake in sports media company Fenway Sports Group from US-based media firm The New York Times Co
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| Date reported: |
14-May-2012 |
| Type: |
M&A |
| Sector Group / Sector: |
Sports media / Sports clubs |
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| Buyer / Investor |
| Name: |
Group of Investors |
| Location: |
North America & Caribbean / United States |
| Business type: |
Financial |
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| Target / Investee |
| Name: |
Fenway Sports Group |
| Location: |
North America & Caribbean / United States |
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| Seller |
| Name: |
The New York Times Co |
| Location: |
North America & Caribbean / United States |
| Business type: |
Trade |
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| Deal details |
| % stake: |
N.A. |
| Amount: |
USD 63 millions |
| Description: |
A group of undisclosed investors acquired stake in sports media company Fenway Sports Group from US-based media firm The New York Times Co (NYT). The acquisition includes acquisition of NYT`s entire stake holding in Fenway Sports for a total consideration of USD 63 million in cash. Founded in 2001, Fenway Sports is a sports media and entertainment company that holds stake in sports companies, clubs including Boston Red Sox, Liverpool FC, 80% of New England Sports Television Network, 50% of Roush Fenway Racing as well as sports marketing firm Fenway Sports Management. Earlier in 2002, NYT acquired 17.75% stake in Fenway Sports for USD 75 million. New York Times is a leading daily newspaper publisher in the US. It also operates a number of online properties related to news and entertainment. |
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| Advisors |
| N.A. |
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