QUOTE OF THE DAY
“Investors should see this as a vote of confidence for the economy.”
Kristina Hooper, Allianz Global Investors, on the Federal Reserve’s plan to reduce monthly bond purchases Article, 1D
IMG talent agency sells to 2 for $2.4 billion
Silver Lake Management LLC and William Morris Endeavor Entertainment LLC have agreed to buy IMG Worldwide Inc., creating an agency with talent in both sports and entertainment.
The companies are paying about $2.4 billion to buy IMG from Forstmann Little & Co., according to a person with knowledge of the matter who asked not to be identified, because the information is private. The deal was announced Wednesday in a statement that didn’t include terms.
Led by Ari Emanuel, William Morris represents some of Hollywood’s biggest actors, directors and writers, including Matt Damon and Ben Affleck.
Adding IMG’s stable of athletes and models, including Peyton Manning and Gisele Bundchen, is a “home-run acquisition,” said Shervin Mirhashemi, chief operating officer of Legends Hospitality Management, a joint venture between the New York Yankees and Dallas Cowboys.
IMG, based in New York, also manages fashion and sports events such as Mercedes-Benz Fashion Week in New York and Wimbledon in London.
Founded in 1960, the company has 3,500 employees globally, according to its website. IMG’s music clients include Taylor Swift and Justin Timberlake.
Won’t allow in-flight calls, Delta says
Delta Air Lines Inc. said Wednesday it won’t allow inflight voice calls, throwing the weight of one of the U.S.
industry’s biggest carriers against a federal regulator that voted last week to explore lifting a ban on in-air calls.
“Our customer research and direct feedback tell us that our frequent fliers believe voice calls in the cabin would be a disruption to the travel experience,” Delta Chief Executive Officer Richard Anderson wrote in a memorandum to employees.
Delta’s release of Anderson’s remarks in a statement to news organizations point to the airline’s opposition to calls on planes.
The U.S. Federal Communications Commission voted 3-2 on Thursday to seek public comment on ending a restriction that has been in place since the 1990s. Another vote would be needed to end the ban.
Anderson said Atlanta-based Delta supports the gate to-gate use of “silent data transmission” from mobile devices such as texts and emails.
A majority of customers in a 2012 survey said on-board calling would detract from the flying experience and Delta’s in-flight crews are against it, he said in the memorandum.
- Bloomberg News
AT&T to fill 200 positions in Louisiana
MONROE, La. - AT&T is seeking applicants to fill more than 200 jobs in Louisiana.
The News-Star of Monroe reports that the jobs are focused in retail, technical and customer service areas.
AT&T said in a news release that the new jobs are a result of its more than $175 million investment in Louisiana in 2013. AT&T Louisiana spokesman Sue Sperry said the company will provide training for all new hires.
The company said it is also focused on hiring veterans, saying it wants to hire 10,000 veterans and their family members across the country during the next five years.
“AT&T continues to expand its customer base in Louisiana and invest in our network to ensure we are providing the high level of service customers have come to expect of the nation’s largest 4G LTE network,” Sonia Perez, president of AT&T Louisiana, said in a news release.
Business, Pages 27 on 12/19/2013