|
Post by The Ultimate Nullifier on Feb 11, 2015 9:19:31 GMT -6
variety.com/2015/biz/news/chinas-wanda-pays-1-2-billion-for-sports-marketeer-infront-1201429967/China’s Dalian Wanda has agreed to pay $1.2 billion for Infront Sports & Media, the Swiss sports marketing firm. Infront is being sold by its private equity owners Bridgepoint for Euros 1.05 billion. Wanda, which is undergoing a transformation from property giant to cultural, entertainment and media investor, last month acquired a 20% stake in Spanish soccer club Atletico de Madrid. It says that the purchase of Infront Wanda will increase Wanda’s influence in the global sports industry and help it raise the level of competition in Chinese sports. Infront has partnerships with 160 rights holders in 25 sports, ranging from winter sports, soccer,summer sports and active lifestyle & endurance. In 2014, it delivered 4,000 event days and had revenues of over $913 million (Euros 800 million). In China it represents Chinese basketball on CBA League and National Team level.
|
|