August 1, 2012 |
After the coffee. Before figuring out if it is too late to become an Olympic swimmer. The Skinny: A lot going on for a Wednesday in August. Time Warner and Comcast both posted their quarterly results. Carl Icahn is selling out of MGM. NBC is finding friends for its Olympic coverage and the Games may even break even for the network. All that and more in this edition of the Morning Fix. Daily Dose: Cable subscribers in Ohio and Kentucky who were enjoying the NFL Network and NFL RedZone are losing the channels starting today (Wednesday)
May 31, 2012 |
Independent studio Relativity Media has received a much-needed infusion of cash thanks to its new billionaire patron, Ron Burkle. The supermarket magnate, who acquired a large minority share in the movie company behind"Immortals"and"Mirror Mirror"in January, anchored a new $350-million debt-financing round that Relativity has finalized. The money will allow Relativity and its chief executive, Ryan Kavanaugh, to get back into producing movies and start building out the company's 2013 slate.
May 8, 2012 |
Los Angeles supermarket magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's Yucaipa Cos. and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. Perry Capital is the majority owner. The deal slashes Barneys' debt to $50 million from $590 million. "This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong," Barneys Chief Executive Mark Lee said in a statement.
May 7, 2012 |
Los Angeles magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's The Yucaipa Companies and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. The deal slashes Barneys debt from $590 million to $50 million. “This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong,” Barneys chief executive officer Mark Lee said in a statement.
January 28, 2012 |
On the day after Frank McCourt agreed to sell the Dodgers, billionaire Ron Burkle issued a statement that indicated he would consider buying the team. "It is one of the best brands in all of sports," Burkle said. "And, like many people, I'd be very proud to be a part of its future. " Burkle did not bid on the Dodgers, but he might still play a part in the future of the team. With the opening round of bidding concluded, Burkle might consider backing groups led by Rick Caruso or Stanley Gold, according to a person familiar with the sale process but not authorized to discuss it. McCourt and his bankers cut the list of prospective owners Friday.
January 6, 2012 |
Billionaire Ron Burkle has added movie production and concert promotion to the arenas he wants to play in. The man who made his fortune bagging supermarket chains and selling them off for billions went into the live music business Thursday by purchasing Artist Group International, a New York agency that books concerts for Billy Joel, Metallica and others. He concurrently invested in the movie business by taking a stake in independent movie studio Relativity Media. Y Entertainment group, a newly formed subsidiary of Burkle's investment firm Yucaipa Cos., made the two deals separately for undisclosed sums of money.