BlackRock takes huge stake in moms and dad of Sports Illustrated

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FILE - In this May 28, 2src19, file photo, an issue of Sports Illustrated is displayed on a newsstand in New York. BlackRock is taking a sizeable stake in the parent of Sports Illustrated and the retail chains Nine West and Aeropostale, becoming the co

The Associated Press

FILE – In this Might 28, 2019, file picture, an issue of Sports Illustrated is shown on a newsstand in New york city. BlackRock is taking a significant stake in the parent of Sports Illustrated and the retail chains Nine West and Aeropostale, ending up being the company’s biggest shareholder. Financial terms were not divulged. The Wall Street Journal, which first reported the deal Sunday, Aug. 11, 2019, mentioned anonymous sources who put the financial investment at $875 million, valuing the home entertainment and marketing business at $4 billion, including financial obligation. Authentic Brands Group has more than 50 brands and almost $10 billion in annual international earnings. (AP Photo/Mark Lennihan, File)

BlackRock is taking a sizeable stake in the moms and dad of Sports Illustrated and the retail chains 9 West and Aeropostale, becoming the business’s biggest investor.

. Financial terms were not revealed. The Wall Street Journal, which first reported the deal Sunday, cited anonymous sources who put the investment at$875million, valuing the entertainment and marketing business at$ 4 billion, consisting of financial obligation.

. Genuine Brands Group has more than 50 brand names and nearly $10 billion in annual international profits.

Other investors in the New York company consist of founding investor Leonard Green & Partners, General Atlantic, Lion Capital, Simon Home Group, Brookfield Residence’ retail group and Shaquille O’Neal.

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Post Author: Izabella Jaworska