Former Yahoo CEO Terry Semel is considering returning to his roots and trying to buy Teddy Forstmann’s IMG sports and entertainment agency. The British Sunday Times reports that Semel will be raising money from Dubai (where else?) to do it.
Times Online: Dubai International Capital is working with former Yahoo and Warner boss Terry Semel on a bid for sports and entertainment agency IMG.
The two sides are still some way apart on the value of the group, which manages celebrities including Tiger Woods and Justin Timberlake.
People close to IMG said that it would take an offer in the region of $3 billion (£1.5 billion) to entice owner Teddy Forstmann to sell. However, industry sources said that $3 billion was a “very aggressive price”.
In the meantime, rumours emerged that Mark Burnett might be interested in selling his TV production company to IMG and is dealing with Forstmann himself. So, how will Semel’s bid for IMG affect this? If Semel takes over, will he still be interested in buying Survivor? Is Burnett racing to get this deal done before Forstmann sells IMG?
See Also: Report: Terry Semel To Bid For IMG
Business Insider Emails & Alerts
Site highlights each day to your inbox.