A blockbuster merger has been scheduled between Learfield and IMG College, two major sports marketing corporations, to combine their efforts when it comes to college sports.
The merged business will be run by Learfield President and CEO Greg Brown. It will be a 50-50 split between the two companies and the merger is expected to be finalized within the next few days.
The move will create a dramatic consolidation of the fragmented collegiate industry by bringing the multimedia rights to 200 schools under one company banner. Learfield and IMG College are the two largest media agencies in college sports with this merge they will create a one-stop shop in the college space.
The combined company will be worth close to $2 billion say industry analysts. Learfield and IMG College will employ close to 1,000 people and will continue to operate as separate entities until the deal closes.
Learfield is owned by Michael Angelakis’ Atairos Group which was bought last year for $1.3 billion. Silver Lake Partners, run by Egon Durban is the majority stakeholder in WME-IMG and Patrick Whitesell with WME-IMG have also been involved in the talks.
