Latest news with #Moelis
Reuters
3 days ago
- Business
- Reuters
Report: Earthquakes owner John Fisher to sell team
June 18 - The San Jose Earthquakes have been put on the market by owner John Fisher, according to a Sportico report on Tuesday night, with Fisher apparently hiring an investment bank to help facilitate the sale. The Earthquakes, MLS and Moelis & Co., the investment bank, declined to comment. But Sportico reported the move was to be announced Wednesday. Nearly four years ago, Fisher -- who is worth $3 billion, according to Forbes -- hired Moelis to explore selling minority shares in the Earthquakes. Now he plans to sell a controlling interest in the team, per Sportico. Fisher, who also owns the MLB's Athletics, paid a $20 million expansion fee in 2007 for the Earthquakes. In January, Sportico ranked the franchise 20th in its MLS team valuations, at $600 million. The Earthquakes play in a soccer-specific stadium, PayPal Park, which is also home to the NWSL's Bay FC. Last year's attendance was the third-lowest in the league; and, despite one of the league's lowest revenue streams, the team's value increased due to the demographics of the Bay Area and its collection of billionaires. The Earthquakes -- currently eighth in the 15-team Western Conference after finishing last in 2024 -- aren't the only MLS franchise on the market. The Vancouver Whitecaps' majority owner hired Goldman Sachs last December to assist with the sale. Fisher also owns more than 95 percent of the MLB's Athletics, who are playing the first of an expected three seasons at Sutter Health Park, the home of the Triple-A Sacramento River Cats, before their new $1.75 billion stadium opens in Las Vegas. In an effort to raise more than $500 million toward ballpark construction, Fisher hired Galatioto Sports Partners to sell LP stakes, while Clark County in Las Vegas is chipping in $350 million. --Field Level Media
Yahoo
14-06-2025
- Business
- Yahoo
Byron Allen Puts His Local TV Stations Up for Sale
Byron Allen is putting his local TV stations up for sale. Allen's Allen Media Group (AMG) says that it has hired the investment bank Moelis & Company to market its local stations, which are comprised of 28 ABC, NBC, CBS and Fox affiliated stations in 21 markets. More from The Hollywood Reporter Byron Allen's 'Comics Unleashed' Gets the Post-Colbert Time Slot on CBS - Again Byron Allen's $10B Discrimination Lawsuit Against McDonald's Over Ad Spend to Go to Trial Michael Rapaport, Jeff Dye Action-Comedy 'Stealing Jokes' Lands Release From Byron Allen's Freestyle (Exclusive) AMG owns stations in Honolulu, Hawaii; Madison, Wisconsin; Montgomery, Alabama; Flint, Michigan; and Tucson, Arizona, among other cities. The company says that it will use the cash generated from any sale to 'significantly reduce' its outstanding debt. 'Six years ago, Allen Media Group began the process of investing over one billion dollars to acquire big four network-affiliated television stations. We have received numerous inquiries and written offers for most of our television stations and now is the time to explore getting a return on this phenomenal investment,' said AMG founder and CEO Byron Allen. 'We are going to use this opportunity to take a serious look at the offers, and the sale proceeds will be used to significantly reduce our debt.' The company has had to undergo cuts over the last year or so as it has grappled with a rapidly changing media environment. In February it refinanced its $100 million revolving credit facility to give it more runway to execute. The sale plans, cuts and refinancing are indicative of many of the issues facing linear TV companies, which are feeling the pinch of cord-cutting )local stations are beneficiaries of retransmission fees, just like cable channels) as well as a more competitive advertising environment, with tech and entertainment giants moving toward more automated ad buying. AMG has, in recent years, been a buyer, rather than a seller. Though most of its acquisitions have been modest in scale, and more focused on linear TV (some syndicated fare and the local TV stations being among the best examples). Allen, who began his media career as a comedian (he still practices the art after debuting on The Tonight Show at age 18), had turned AMG into a rollup vehicle in recent years, acquiring not only its stable of local TV stations but also brands like The Weather Channel and The Grio. The company also produces syndicated TV programming, including a slate of courtroom and judge shows, and Comics Unleashed, which is taking over the post-Late Show timeslot on CBS. The mogul has never been shy about expressing his ambitions. He told The Hollywood Reporter in a 2020 profile that he would love to own CNN: 'I'm close to the same age when Rupert Murdoch came here to America,' he said. 'He was in his 50s. I'm 59. What you see today will be 10,000 times bigger.' And last year, his company said that it made a $14 billion offer for Paramount Global, though it did not disclose who its strategic partners would be in any such bid. AMG has a streaming presence through FAST channels, a Weather Channel streaming option and offerings like HBCU Go, but the company is modest in scale compared to other independent TV companies, underscoring the challenges of making the jump to digital. Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Bloomberg
11-06-2025
- Business
- Bloomberg
Arcis Golf Grows Through Deals While Keeping Leverage Low
Hi, it's Liana Baker in New York, bringing you a golf-themed newsletter just in time for the US Open. Elsewhere, we take a closer look at the workaholic banker who's getting ready to take charge at Moelis & Co. Today's top stories
Reuters
10-06-2025
- Business
- Reuters
Moelis CEO-designate joins Wall Street in signaling dealmaking rebound after tariff pause
June 10 (Reuters) - Moelis' (MC.N), opens new tab incoming CEO Navid Mahmoodzadegan told investors on Tuesday that he is optimistic about the dealmaking environment, as confidence returns following a pause in April triggered by U.S. tariff threats. "I'm optimistic. It definitely feels better and better each day ... The announcement in April, I think set us back a little bit in terms of the M&A environment," he said at the Morgan Stanley U.S. Financials Conference. Investor sentiment soured and stock markets slid after U.S. President Donald Trump's "Liberation Day" tariff threats, stalling risk appetite and slowing deal activity. Appetite for deals has since returned, with market participants and bankers once again seeing an opening for initial public offerings and signs of a pickup in M&A activity. "Everywhere I go, people want to transact. They want to lean into transactions, whether it's companies or private equity firms or capital providers," Mahmoodzadegan said. "We're seeing our clients push us to launch transactions, even if the environment isn't crystal clear." Earlier this week, Moelis said Ken Moelis would step down as CEO of the investment bank and hand the reins to Mahmoodzadegan, its co-founder and co-president. The succession marks a major step for the bank, which has been led solely by Ken Moelis since its founding in 2007. While succession at companies closely tied to founding CEOs can be challenging due to their outsized personal influence, Mahmoodzadegan said it was part of the "natural evolution of the firm." "I think Ken felt that even though he's fully active and will continue to be fully active with clients going forward ... this was a great opportunity at a great time to give more responsibility, not just to me, but to the next generation of bankers," Mahmoodzadegan added. The bank's deal pipeline currently is up from April and is as high as "it's ever been at the firm, or close to it," the CEO-designate said. The comments echo Morgan Stanley (MS.N), opens new tab CEO Ted Pick's expectation of a strong end of the quarter for the bank as dealmaking and the calendar for equity capital markets are picking up. Last week, top executives at the New York Stock Exchange (ICE.N), opens new tab and Nasdaq (NDAQ.O), opens new tab also said the IPO market is gaining momentum despite the Trump administration's rapidly shifting tariff policy, adding to the industry's optimism about a meaningful recovery.
Yahoo
10-06-2025
- Business
- Yahoo
BP Takeover Appears Unlikely Due to Size and Complexity
BP plc's BP potential takeover appears highly unlikely at present, according to senior bankers at Moelis & Co., who cite the British oil major's vast size and operational complexity as major barriers to acquisition, per a Bloomberg report. Speaking to Bloomberg, Stephen Trauber, Moelis Chairman and Global Head of Energy and Clean Technology, indicated that there is no obvious buyer for BP at present, especially not from the United States. He added that even on a global scale, few potential acquirers see BP's assets as essential. Shell Plc SHEL is seen as the most compatible acquirer in terms of asset synergies and regulatory feasibility, according to Trauber. However, Shell's earlier shift toward traditional oil and gas, and its current stronger market positioning make a deal less attractive from its side. That said, Trauber acknowledged that there is a good chance of a tie-up in the future, particularly if BP's valuation remains subdued and Shell continues to strengthen its balance sheet. In such a scenario, strategic alternatives may need to be reassessed. BP's $20 billion divestment plan is encountering headwinds, with its lubricants unit, Castrol, standing out as a particularly difficult asset to offload. According to Moelis, the business has a narrow pool of potential buyers, making a successful sale uncertain, even under competitive conditions. The company may also consider selling its high-quality oil assets in the United States that may attract strong interest. However, such a move could trigger broader concerns about BP's future strategy, as highlighted by Moelis Managing Director Muhammad Laghari. For now, the consensus among energy dealmakers is that a BP takeover remains a distant prospect. While strategic realignments and market dynamics could change the picture in the future, BP's scale, asset mix and valuation challenges make any near-term acquisition highly improbable. BP currently carries a Zack Rank #5 (Strong Sell). Investors interested in the energy sector may look at a couple of better-ranked stocks like Subsea 7 S.A. SUBCY and Energy Transfer LP ET. Subsea 7 presently sports a Zacks Rank #1 (Strong Buy), while Energy Transfer and RPC carry a Zacks Rank #2 (Buy) each. You can see the complete list of today's Zacks #1 Rank stocks here. Subsea 7 helps build underwater oil and gas fields. It is a top player in the Oil and Gas Equipment and Services market, which is expected to grow as oil and gas production moves further offshore. The Zacks Consensus Estimate for SUBCY's 2025 EPS is pegged at $1.31. The company has a Value Score of A. Energy Transfer is poised to benefit from long-term fee-based commitments. It is also focused on expanding operations through organic and inorganic initiatives. The firm is looking for solutions to meet growing energy demands from additional demand centers through its pipeline network. Energy Transfer's systematic investments should boost its total fractionation capacity at Mont Belvieu and raise its top line. The Zacks Consensus Estimate for ET's 2025 EPS is pegged at $1.44. The company has a Value Score of A. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP) : Free Stock Analysis Report Energy Transfer LP (ET) : Free Stock Analysis Report Subsea 7 SA (SUBCY) : Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
