Associated Press, Fox Sports to sell Stats venture to private equity firm
NEW YORK, N.Y. - The Associated Press and Fox Sports are selling their sports-data joint venture Stats LLC to Vista Equity Partners, a San Francisco-based private equity firm.
Terms of the deal were not disclosed.
The 50-50 partnership was formed in Chicago in 2005 and provides real-time scores, historical information and technology to websites and other customers.
AP and Fox, a unit of Twenty-First Century Fox Inc., will continue to exchange stories, photos and data with Stats.
Ken Dale, AP chief financial officer, said Stats' revenue has tripled since its founding, but its growth is increasingly in selling technology that is outside AP's core business.
Dale said AP's revenue and costs won't change significantly after the sale. He said the proceeds will be used to cut the news co-operative's pension obligations.
Read more Business News
- Campfire ban liftedCentral Okanagan
- National Guard leaves FergusonWorld
- 22,322 missing since 2006World
- Dog used as lure to kidnapWorld
|QHR Technologies Inc||1.21||0.00|
|Anavex Life Sciences||0.26||0.00|
|Copper Mountain Mining||2.88||-0.04|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.215||-0.015|
Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...
Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...
My screen printing business, like many others, started as a one-man operation. It was located in a small building, not much better than a shack, with a telephone, a big table where I ate lunch and (oc...