Learfield, one of the college sports industry’s leaders in broadcasting, is being acquired by private equity firm TPG, according to a report from Ben Portnoy of the Sports Business Journal.
The sale price will likely land between $1.2 billion and $2 billion, according to Portnoy, in a deal that is set to close in Q3 of this year, just in time for the start of college football season. Learfield had been in discussions about a possible sale for months, with conversations ranging from “doing nothing” to selling a majority stake to a new ownership group. Ultimately, the multimedia giant went the route of selling a majority stake in its business to private equity, which will result in a lucrative exit.
