DMN: Texas, SMU, TCU, A&M, University of North Texas sports-media partner avoids bankruptcy with $600M-plus deal

[TopFrog]

Texas, SMU, TCU, A&M, University of North Texas sports-media partner avoids bankruptcy with $600M-plus deal​

Story by Mitchell Parton, The Dallas Morning News

One of the nation’s top broadcasting, branding and sponsorship companies for collegiate sports programs made a deal with several private equity firms to reduce its debt by more than $600 million.

Plano-based Learfield, which has ties to more than 1,200 collegiate institutions and more than 15,000 brand partners, closed the deleveraging transaction with lenders and equity partners that — in addition to cutting its debt in half — also adds $150 million in new equity investment, the company said Wednesday.

Read more at https://www.msn.com/en-us/money/companies/texas-smu-tcu-a-mUniversityofNorthTexas-sports-media-partner-avoids-bankruptcy-with-600m-plus-deal/ar-AA1gJwQm

 

[ShadowFrog]

Texas, SMU, TCU, A&M, University of North Texas sports-media partner avoids bankruptcy with $600M-plus deal​

Story by Mitchell Parton, The Dallas Morning News

One of the nation’s top broadcasting, branding and sponsorship companies for collegiate sports programs made a deal with several private equity firms to reduce its debt by more than $600 million.

Plano-based Learfield, which has ties to more than 1,200 collegiate institutions and more than 15,000 brand partners, closed the deleveraging transaction with lenders and equity partners that — in addition to cutting its debt in half — also adds $150 million in new equity investment, the company said Wednesday.

Read more at https://www.msn.com/en-us/money/com...ds-bankruptcy-with-600m-plus-deal/ar-AA1gJwQm

I’ve been deleveraging for years without profit.

 

[Endless Purple]

Never surprises me when there are these companies that have a cash cow industry always manage to mess it up. Just look at how bad the TCU athletics website (Learfield associated) is.

 

[Eight]

Never surprises me when there are these companies that have a cash cow industry always manage to mess it up. Just look at how bad the TCU athletics website (Learfield associated) is.

so those arseholes are responsible for that [ clusterfarg ]?

may they root in hell

 

[froginaustin]

Never surprises me when there are these companies that have a cash cow industry always manage to mess it up. Just look at how bad the TCU athletics website (Learfield associated) is.

No doubt one or more “investors” like Bane Capital.
Strip cash and wreck the business.

 

[Sweat Equity]

Never surprises me when there are these companies that have a cash cow industry always manage to mess it up. Just look at how bad the TCU athletics website (Learfield associated) is.

If you thought Learfield under Endeavor and Silver Lake was bad, just wait until this merger goes through with Fortress, Charlesbank and Clearlake running the show.

 

[Sangria Wine]

That business is like property management…lots of cash flow and even bigger expenses. Sexy looking on the top line and usually a [ Finebaum ] show on the bottom.

 

[Endless Purple]

If you thought Learfield under Endeavor and Silver Lake was bad, just wait until this merger goes through with Fortress, Charlesbank and Clearlake running the show.

Makes me want to start up my own web company and take over the sites.

 

[BrewingFrog]

If you thought Learfield under Endeavor and Silver Lake was bad, just wait until this merger goes through with Fortress, Charlesbank and Clearlake running the show.

Worsening flocks of vultures, coming to aggressively pick at bones...