May 7, 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 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 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.
July 28, 2011 |
Did Jamie McCourt enlist billionaire Ron Burkle in her efforts to buy out her ex-husband Frank McCourt as owner of the Dodgers? As Frank McCourt launched an unusually personal attack on Commissioner Bud Selig, and as Jamie McCourt charged her ex-husband with waging "jihad" against Major League Baseball at her expense, the newest development in the Dodgers' long-running ownership saga revolved around the potential involvement of Burkle. Jamie McCourt has said for more than a year that she would line up investors in a bid for the Dodgers, but she never identified any potential partners.
CALIFORNIA | LOCAL
July 17, 2011 |
Frank Lloyd Wright's Ennis House, the 1924 hilltop mansion that is one of the master's most celebrated residential designs and one of Los Angeles' most revered architectural landmarks, has sold to billionaire Ron Burkle for about $4.5 million, 70% less than its original asking price. Ennis House Foundation Chairwoman Marla Felber confirmed on Saturday the exact price: $4,458,084.58, which represents the organization's balance on a construction loan taken out to repair L.A.'s most prestigious fixer.
April 22, 2011 |
Steve Garvey, one of the most popular players in Dodgers history, said Friday that he has teamed with billionaire business magnate Ron Burkle in an investment group that would like to buy the team. Commissioner Bud Selig seized control of the Dodgers this week, dramatically increasing the chances the team eventually would be sold. In that event, Garvey said, he believes his baseball background and Burkle's business acumen could help the Dodgers reclaim their place among baseball's elite franchises.
April 14, 2011 |
Anaheim's effort to bring a third NBA team to Southern California reached its latest peak Thursday, as the Sacramento Kings' owners explained their interest in making Honda Center their new home and the city's mayor expressed his enthusiasm to Commissioner David Stern in New York. Kings owners Joe and Gavin Maloof were joined by siblings George and Phil in making a 90-minute proposal to the NBA's Board of Governors' relocation committee about the benefits of a new home in Orange County.
September 29, 2010 |
Los Angeles billionaire investor Ronald Burkle lost his bid to unseat the chairman of book giant Barnes & Noble Inc. in a shareholder vote that ended Tuesday, delivering a big victory to the company's leadership. The closely watched vote was considered critical to the future of the company, with Barnes & Noble executives favoring a steady, tried-and-true method of running the world's largest bookseller and Burkle fighting for a major shake-up ? although he never made clear what plans he had for the company.
September 28, 2010 |
Barnes & Noble Inc.'s shareholders voted to keep Chairman Leonard Riggio on the board of the company he founded, rejecting an attempt at his ouster by Ron Burkle's Yucaipa Cos. to shake up the largest U.S. bookstore chain. Riggio, the biggest shareholder, was re-elected to the nine-member board with less than 50 percent of votes cast, Yucaipa said in a statement. The slate from Yucaipa, the second- largest holder, included Burkle. The vote caps more than a year of Burkle and Riggio clashing over the company's direction as the chain tries to keep its 700 superstores profitable amid growing popularity of digital books and online sales.
September 25, 2010 |
After months of bitter attacks, Los Angeles billionaire Ronald Burkle and Barnes & Noble Chairman Leonard Riggio are expected to face off Tuesday in the next chapter of a prolonged battle over the world's largest bookseller. On one side is Burkle, 57, who made his fortune in supermarket chains and has been rapidly accumulating Barnes & Noble stock since late last year, raising the prospect that he is seeking control of the company. On the defensive is Riggio, 69, who grew Barnes & Noble from a single store in 1971 to the 1,350-outlet behemoth it is today, one that critics have blamed for the demise of small, independent bookstores.