Sporting News to Be Sold to Advance Publications' Unit
ST. LOUIS, and NEW YORK, and CHICAGO, Sept. 5 /PRNewswire/ -- Vulcan Sports
Media, Inc. announced today that it entered into an agreement to sell the Sporting News
print, online and radio network businesses, together with the Sporting News brand and
related assets, to American City Business Journals, Inc. a unit of Advance Publications
(parent company of Conde Nast, Fairchild, Golf Digest and Parade publications, as well
as numerous newspapers and cable TV interests). Price and terms were not disclosed. The
parties indicated that they intend to consummate the sale in early October.
An icon on the American sports landscape, Sporting News began with a weekly
newspaper in 1886 and has grown to include a magazine reaching 4 million readers
weekly; books spanning from deluxe commemoratives to a line of 20 sport-specific
annuals; the web's leading general sports site (measured by audience engagement); and a
national radio network carried by more than 150 US radio stations. Sporting News
recently launched a NASCAR News Wire, supplying newspapers with daily NASCAR
coverage. Sporting News Grills, an alliance with Holiday Inns, begin rolling out this Fall.
The company recently announced that September will be its largest ad sales month ever,
with the magazine registering the two biggest issues in its 120 year history, and
sportingnews.com setting new sales records.
American City Business Journals (ACBJ) is headquartered in Charlotte, North Carolina.
In addition to publishing business journals in 41 cities (including the homes for most
NFL and MLB teams), ACBJ's Street & Smith's Sports Group publishes a range of sports
annuals; the SportsBusiness Journal and related web publications covering the business
of sports; NASCAR Scene and NASCAR Illustrated magazines; and the Hemmings line
of magazines for car collectors and enthusiasts.
"Sporting News is a strong brand that we believe has considerable upside in print, online
and on-air platforms," said Ray Shaw, American City's Chairman and CEO.
"We feel fortunate that the next phase of Sporting News' growth will be accelerated by
ACBJ and the Shaws," said Rick Allen, CEO of Sporting News. "They have a deep
knowledge of sports and media; a large audience that reinforces and extends our own; a
portfolio of complementary media products; and visionary and experienced executives.
Aligning with them and the broader Conde Nast family extends our 120 year-old brand
and our leadership in sports information and entertainment."
Vulcan Sports Media also operates radio stations in New York, Los Angeles and Boston,
which are being sold separately from those assets included in the transaction with ACBJ.
Allen & Company served as financial advisor to the seller, Vulcan Capital, the
investment arm of Paul Allen's Vulcan Inc. Legal advice was provided to the seller by
Skadden, Arps, Slate, Meagher & Flom LLP represented Vulcan Capital and Sporting
News in the transaction.
Source: Vulcan Sports Media, Inc
ST. LOUIS, and NEW YORK, and CHICAGO, Sept. 5 /PRNewswire/ -- Vulcan Sports
Media, Inc. announced today that it entered into an agreement to sell the Sporting News
print, online and radio network businesses, together with the Sporting News brand and
related assets, to American City Business Journals, Inc. a unit of Advance Publications
(parent company of Conde Nast, Fairchild, Golf Digest and Parade publications, as well
as numerous newspapers and cable TV interests). Price and terms were not disclosed. The
parties indicated that they intend to consummate the sale in early October.
An icon on the American sports landscape, Sporting News began with a weekly
newspaper in 1886 and has grown to include a magazine reaching 4 million readers
weekly; books spanning from deluxe commemoratives to a line of 20 sport-specific
annuals; the web's leading general sports site (measured by audience engagement); and a
national radio network carried by more than 150 US radio stations. Sporting News
recently launched a NASCAR News Wire, supplying newspapers with daily NASCAR
coverage. Sporting News Grills, an alliance with Holiday Inns, begin rolling out this Fall.
The company recently announced that September will be its largest ad sales month ever,
with the magazine registering the two biggest issues in its 120 year history, and
sportingnews.com setting new sales records.
American City Business Journals (ACBJ) is headquartered in Charlotte, North Carolina.
In addition to publishing business journals in 41 cities (including the homes for most
NFL and MLB teams), ACBJ's Street & Smith's Sports Group publishes a range of sports
annuals; the SportsBusiness Journal and related web publications covering the business
of sports; NASCAR Scene and NASCAR Illustrated magazines; and the Hemmings line
of magazines for car collectors and enthusiasts.
"Sporting News is a strong brand that we believe has considerable upside in print, online
and on-air platforms," said Ray Shaw, American City's Chairman and CEO.
"We feel fortunate that the next phase of Sporting News' growth will be accelerated by
ACBJ and the Shaws," said Rick Allen, CEO of Sporting News. "They have a deep
knowledge of sports and media; a large audience that reinforces and extends our own; a
portfolio of complementary media products; and visionary and experienced executives.
Aligning with them and the broader Conde Nast family extends our 120 year-old brand
and our leadership in sports information and entertainment."
Vulcan Sports Media also operates radio stations in New York, Los Angeles and Boston,
which are being sold separately from those assets included in the transaction with ACBJ.
Allen & Company served as financial advisor to the seller, Vulcan Capital, the
investment arm of Paul Allen's Vulcan Inc. Legal advice was provided to the seller by
Skadden, Arps, Slate, Meagher & Flom LLP represented Vulcan Capital and Sporting
News in the transaction.
Source: Vulcan Sports Media, Inc