Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Friday, July 10, 2020  Spokane, Washington  Est. May 19, 1883
Clear Day 75° Clear
News >  Business

BlackRock takes huge stake in parent of Sports Illustrated

BlackRock Inc. headquarters is shown in New York on Feb. 15, 2016. (MARK LENNIHAN / AP)
BlackRock Inc. headquarters is shown in New York on Feb. 15, 2016. (MARK LENNIHAN / AP)
Associated Press

NEW YORK – BlackRock is taking a sizeable stake in the parent of Sports Illustrated and the retail chains Nine West and Aeropostale, becoming the company’s largest shareholder.

Financial terms were not disclosed. The Wall Street Journal, which first reported the deal Sunday, cited anonymous sources who put the investment at $875 million, valuing the entertainment and marketing company at $4 billion, including debt.

Authentic Brands Group has more than 50 brands and nearly $10 billion in annual global revenue. Other investors in the New York company include founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Property Group, Brookfield Properties’ retail group and Shaquille O’Neal.

Local journalism is essential.

The journalists of The Spokesman-Review are a part of the community. They live here. They work here. They care. You can help keep local journalism strong right now with your contribution. Thank you.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.


Swedish Thoracic Surgery: Partners in patient care

 (Courtesy Bergman Draper Oslund Udo)
Sponsored

Matt Bergman knows the pain and anger that patients with mesothelioma feel.