Frank McCourt - FishbowlLA

Report: Koch Brothers Circling Tribune Co. Assets

Richard Horgan — Tue, 12 Mar 2013 10:00:49 +0000

Ha ha. Hillel Aron, ably working the LA Times transition-phase beat for LA Weekly, warns that today’s reported rumblings should probably be taken not so much with a grain of salt but rather a dollop of it. Nonetheless, with Tribune Co. reps having recently hinted they would prefer to find a single buyer for the company’s entire daisy chain of newspaper assets, this makes a lot of on-newsprint sense:

Multiple sources tell LA Weekly that Charles and David Koch — the infamous right-wing billionaire brothers — are considering an offer on either the Tribune Co. newspaper group, which includes the LA Times, the Chicago Tribune and the Baltimore Sun or the entire Tribune Co., which includes more than 20 stations like WGN and KTLA Channel 5.

continued…

New Career Opportunities Daily: The best jobs in media.

GQ Serves Up Tasty Cheers Anniversary Present

Richard Horgan — Thu, 27 Sep 2012 11:30:45 +0000

Today of course, the pitch would be all about the “reality” of a Boston walk-down bar. A vehicle designed to allow viewers to follow along as real-life customers chew on the Red Sox, the Patriots, the Bruins and billionaire Frank McCourt.

But 30 years ago, the sitcom still ruled the prime time TV airwaves. And as the October issue of GQ wonderfully celebrates, there was no better example of the artform than the show launched on September 30, 1982. There is so much great stuff in the mag’s Cheers oral history. Here are just a couple of bar-nut size teases:

James Burrows: When I got the first draft of the pilot from Les and Glen [Charles], I said to my wife, “Oh, my God, these guys have brought radio back to television.” They had written this smart, intellectual story. I’d never seen anything like that on TV before—just guys sitting around, talking.

continued…

New Career Opportunities Daily: The best jobs in media.

Forbes Sends Dodgers to the Discount Bin

Richard Horgan — Mon, 16 Jul 2012 11:15:09 +0000

Even though the gang at Guggenheim Partners, with a key assist from Magic Johnson, paid $2.15 billion for the Los Angeles Dodgers, Forbes magazine believes the team is presently worth less. A lot less.

The magazine’s just released list of “The World’s 50 Most Valuable Sports Teams” puts forth the kind of instant-depreciation that would make even a car salesman blush. Check it out:

#1 Manchester United ($2.23 billion)
#2 Real Madrid ($1.88 billion)
#3 New York Yankees ($1.85 billion)
#3 Dallas Cowboys ($1.85 billion)
#5 Washington Redskins ($1.56 billion)
#6 Los Angeles Dodgers ($1.4 billion)
#6 New England Patriots ($1.4 billion)
#8 Barcelona ($1.31 billion)
#9 New York Giants ($1.3 billion)
#10 Arsenal ($1.29 billion)

continued…

New Career Opportunities Daily: The best jobs in media.

This Picture is Worth 2 Billion Words

Marcus Vanderberg — Thu, 05 Apr 2012 18:42:03 +0000

The passing of the torch as Magic Johnson and Frank McCourt are all smiles at Opening Day from Petco Park in San Diego.

Photo: Jon SooHoo/Los Angeles Dodgers

New Career Opportunities Daily: The best jobs in media.

LA’s Magical New Baseball Anthem

Richard Horgan — Thu, 29 Mar 2012 10:00:19 +0000

At the nadir of the bankrupt Frank McCourt era, FishbowlLA offered up what we felt was a more fitting version of baseball’s seventh inning anthem. We’re sure glad we don’t have to sing that song anymore.

Thanks to this week’s $2.15 billion Dodgers deal, it’s time for a different Chavez Ravine shower refrain. So all together now, follow the bouncing billions and learn the words to “Take Me Out to the Bid Game:”

Take me out to the bid game,
Take me out with the zeros.

Buy me some land and broadcast rights,
I don’t care if it was a sneak attack,

continued…

New Career Opportunities Daily: The best jobs in media.

Magic Johnson’s Group Buys Dodgers for $2 Billion

Marcus Vanderberg — Tue, 27 Mar 2012 23:14:26 +0000

Do you believe in Magic?

Magic Johnson‘s bidding group reached a deal to purchase the Los Angeles Dodgers and Dodger Stadium from Frank McCourt for a whopping $2 billion — the highest amount ever paid for a sports franchise. Bankruptcy judge Kevin Gross is expected to approve of the deal on April 13, a little over two weeks before McCourt must pay his ex-wife Jamie $131 million as part of their divorce settlement.

Guggenheim Baseball Management LLC are the official owners, which include Johnson, Mark R. Walter, Peter Guber, Stan Kasten, Bobby Patton and Todd Boehly. The controlling owner is Walter, chief executive officer of the financial services company. Kasten, the former president of the Washington Nationals and Atlanta Braves, is expected to run the day-to-day operations.

continued…

New Career Opportunities Daily: The best jobs in media.

Three Groups Left in Dodgers Bidding

Marcus Vanderberg — Sat, 24 Mar 2012 10:38:14 +0000

And then there were three.

Another round of cuts were made in the Los Angeles Dodgers bidding process and we could have a winner as soon as next week, according to Bill Shaikin of the Los Angeles Times:

The three finalists include a group led by hedge-fund billionaire Steven Cohen and Los Angeles billionaire and philanthropist Patrick Soon-Shiong; a group led by Magic Johnson and veteran baseball executive Stan Kasten; and St. Louis Rams owner Stan Kroenke.

The cut was confirmed by two people familiar with the sale process but not authorized to comment.

Major League Baseball owners are expected to vote on the three remaining bidders early next week. Final negotiations then would take place with Frank McCourt and Blackstone Advisory Partners, the investment bank brokering the sale.

New Career Opportunities Daily: The best jobs in media.

Peter O’Malley Withdraws LA Dodgers Bid

Marcus Vanderberg — Tue, 21 Feb 2012 19:41:21 +0000

Peter O’Malley won’t own the Los Angeles Dodgers for a second time.

The 74-year-old former owner reportedly withdrew his bid Tuesday, leaving 10 potential individuals or groups left in the running to purchase control of the baseball franchise from Frank McCourt.

The O’Malley family owned the Dodgers from 1950-1998 before News Corporation purchased the team for reportedly $350 million.

A new round of bids are expected on Thursday as we are just two months away from the end of the McCourt era.

New Career Opportunities Daily: The best jobs in media.

New York Observer Publisher in Hunt for Dodgers

Richard Horgan — Tue, 07 Feb 2012 10:45:29 +0000

Here’s a tip for all you Dodger ownership bid watchers. If you have not already, set up a Google News alert for “Bill Shaikin.” The LA Times baseball beat reporter remains the go-to source for breaking developments about the Frank McCourt sweepstakes.

Shaikin’s latest scoop, posted online last night, reveals that 31-year-old New York real estate entrepreneur Jared Kushner is among nine groups in the current running to buy the Dodgers. Kushner is the son-in-law of Donald Trump, as well as the owner of a Manhattan newspaper re-invented by former mediabistro.com editorial employee Elizabeth Spiers:

Kushner, who became owner and publisher of the New York Observer in 2006, has played a key role in expanding the family business beyond real estate. At 31, he would be the youngest owner in Major League Baseball.

continued…

New Career Opportunities Daily: The best jobs in media.

Dodgers Have No Interest in Paying Bryan Stow

Marcus Vanderberg — Fri, 03 Feb 2012 20:22:41 +0000

The Los Angeles Dodgers are trying to wash their hands clean of the Bryan Stow assault.

The baseball organization asked U.S. Bankruptcy Judge Kevin Gross to dismiss a claim filed by Stow and his family shortly after owner Frank McCourt filed for bankruptcy.

Despite the reported 442 security personnel on hand for opening day last March, Stow still managed to get brutally attacked in the parking lot of Chavez Ravine, leaving him in a coma for months.

continued…

New Career Opportunities Daily: The best jobs in media.

Seventh Inning Dodgers Ownership Stretch Adds Joe Torre, Rick Caruso

Richard Horgan — Wed, 04 Jan 2012 10:15:50 +0000

As first tipped by New York Times columnist Richard Sandomir, there’s another group jumping into the Frank McCourt bankruptcy sweepstakes. And it’s a good one.

Former Dodgers manager Joe Torre has left his MLB executive position to join a bid led by The Grove and Americana on Brand developer Rick Caruso, in what would be a tremendous bit of local-karma competition for Magic Johnson‘s planned bid. There’s also another key person involved. Per Bill Shaikin‘s LA Times blog item this morning:

The investment banker working with Caruso and Torre is Byron Trott of BDT Capital in Chicago, described in this London Evening Standard article as the only banker Warren Buffett trusts.

continued…

New Career Opportunities Daily: The best jobs in media.

Mark Cuban Ready to Look at Dodger Books

Richard Horgan — Fri, 16 Dec 2011 08:30:03 +0000

The 2011 NBA trophy is parked in Mark Cuban‘s kitchen and Lamar Odom now wears a Mavericks uniform. So really, the colorful owner has no need to segue into baseball.

But this morning on the “Dan Patrick Show,” Cuban confirmed he’s still interested in buying the Dodgers and will approach the upcoming opening of the books like any other deal:

“My concern on the Dodgers is that someone is just going to come in and overpay. I’ve got a lot of money but I don’t have unlimited money, and to me, you’ve got to pay the right price because you don’t want all your money going to Frank McCourt.”

continued…

New Career Opportunities Daily: The best jobs in media.

Magic Makes a Play for the Dodgers

Richard Horgan — Fri, 02 Dec 2011 10:00:34 +0000

At this point, the question has become, who isn’t interested in buying the Dodgers? Everyone from Steve Garvey and Orel Hershiser to Larry King and Mark Cuban are in the mix.

Now, according to LA Times columnist Bill Plaschke, recently divested Lakers part-owner Magic Johnson plans to join the Frank McCourt bankruptcy sweepstakes:

Johnson would be the face of a high-powered ownership group that would include Stan Kasten, the former president of the Atlanta Braves and Washington Nationals, and Mark Walter, chief executive of Guggenheim Partners, a financial services firm that controls over $125 billion in assets. The firm is headquartered in Chicago and New York, with an office in Los Angeles.

continued…

New Career Opportunities Daily: The best jobs in media.

There Was a Frank McCourt Sighting Monday

Marcus Vanderberg — Mon, 14 Nov 2011 20:34:24 +0000

Los Angeles Dodgers owner (for now) Frank McCourt made his first public appearance Monday since agreeing to sell the team, just hours after the news broke that center fielder Matt Kemp was close to signing a $160 million contract extension.

McCourt was at Mona Park in Compton with Kemp for a dedication to a youth baseball field.

The Los Angeles Times has some highlights from McCourt’s comments to the media:

What he would like say to the fans: “I’m very grateful to the fans. They have been phenomenal to me and my family since the day we arrived in L.A. I know the last couple years were very, very difficult. I’m very, very sorry about that. We’re going to move forward and handle the situation now in as professional a way as possible and make sure the baton is passed here in a classy way.”

continued…

New Career Opportunities Daily: The best jobs in media.

Sources: Fox Not Interested in Buying Dodgers

Marcus Vanderberg — Wed, 02 Nov 2011 16:44:05 +0000

As soon as news broke Tuesday night that Frank McCourt had finally agreed to sell the Los Angeles Dodgers, rumors started swirling as to who would purchase the team.

You can scratch Fox from the list of prospective buyers as Los Angeles Times reporter Bill Shaikin tweeted Wednesday that the media giant isn’t interested in purchasing the team at this time.

With Fox out of the picture, Dodger fans are one step closer to a dream scenario where Dallas Mavericks owner Mark Cuban purchases the team.

“It all comes down to price,” Cuban told ESPNLosAngeles.com Wednesday morning via email. “It’s important to have more than enough money to pay players and invest in the organization.”

One can dream, right?

New Career Opportunities Daily: The best jobs in media.