Monday, 1 September 2014
Last updated 3 days ago
Nov 26 2007 | 1:00am ET
One New Jersey hedge fund firm is hoping to score big on European football. MarCap recently upped its stake in two sports communications companies controlled by the once powerful media mogul Leo Kirch. The hedge fund has taken a 5% interest in EM.Sport Media and a 9% interest in Highlight Communications.
MarCap’s investments follow news that the 81-year-old Kirch—a major shareholder in both companies—is staging a comeback and plans to merge the two entities to create a mammoth sports rights and production firm.
Earlier this year, Kirch agreed to sell his 36.4% stake in Highlight to EM.Sport Media for approximately $230 million. In return, Kirch received an 11.5% stake in EM.Sport and $170 million in cash. Kirch is now EM.Sport’s biggest shareholder, and EM.Sport is the largest shareholder in Highlight. MarCap’s investment should help Kirch refinance the $4.3 billion rights deal he has to market Germany’s top soccer league, Bundesliga, from 2009 to 2015.
“Kirch is building a powerful sports company. That’s why we’re strengthening our investments,” David Marcus, CEO of MarCap, told German business daily Handelsblatt. "In the communications industry there is a huge demand for soccer, which allows for many creative possibilities in rights exploitation."
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...