In the continued fallout from the Relativity Media bankruptcy, supermarket magnate Ron Burkle announced Wednesday that he is committing $30 million to help expand Relativity Sports, where he said he will serve as chairman of the board. 490 more words
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With the exit of Happy Walters from Relativity Sports, founding board member Ron Burkle (who is founder of The Yucaipa Companies) now will oversee it as Chairman of the Board and has committed $30M of growth capital to expand the Beverly Hills-based sports agency. 297 more words
An investor group backing Ryan Kavanaugh that includes supermarket magnate Ron Burkle, a subsidiary of the Elliott Associates hedge fund, and an obscure San Francisco Bay Area investment house are continuing to press their bid to purchase all but the TV operations of bankrupt Relativity Media, in a protracted auction that has no certain end point, according to two sources familiar with the situation. 897 more words
In a surprising, 11th-hour development, an investor group including supermarket magnate Ron Burkle has made a strong bid that could keep CEO Ryan Kavanaugh in control of much of bankrupt Relativity Media, the multimedia company he created — though without the television division that is viewed by investors as the company’s strongest asset, according to a source familiar with Thursday’s auction of the company. 607 more words
PITTSBURGH (KDKA) – The Penguins franchise is deeply rooted in Pittsburgh, but the ownership of the team could soon be changing.
The Penguins said in a statement there have been multiple offers to join the ownership group over the last several years. 258 more words