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Fortune
Fortune
Catherina Gioino

Bob Iger and Josh Kushner buy the LA Lakers for a record-breaking $12.5 billion, up 25% in just the 14 months since Mark Walter bought them

(Credit: XNY/Star Max/GC Images)

In 1979, Jerry Buss bought the Lakers and turned professional basketball into a Hollywood production: courtside celebrities, a fast, camera-ready style of play, an arena built to feel like a stage. He called it Showtime, and it worked so well it became the template every league in the world eventually copied.

Forty-seven years later, the team Buss built as entertainment is being bought by the man who spent his career running the biggest entertainment company on earth. Bob Iger, who built Disney around owning stories the world already loved, is now buying the story Buss invented.

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