Exclusive-Dalian Wanda is considering selling Olympic media rights manager Infront -sources
LONDON/FRANKFURT/NEW YORK (Reuters) - Dalian Wanda Group, owned by China's one-time richest man Wang Jianlin, is looking to sell its sports marketing unit Infront as financial pressure mounts on the developer to shore up its finances, four people familiar with the matter told Reuters.
China's largest commercial real estate group has sought advice from Deutsche Bank on the sale of Infront Sports & Media, the sources said, adding that the process was in the early stages and could take months to complete. Private equity firms are looking at Infront, three of the sources said. The successful buyer is likely to be a deep-pocketed investor because of the minimal guarantees the company has to pay for the sports rights, one of the sources added.
Headquartered in Switzerland, Infront includes international media rights management for Italy's Serie A and the UK Premier League, as well as event operations, media rights distribution and sponsorship sales. In June, Infront was awarded broadcasting rights in 22 Central and Southeast Asian countries for the Olympic Games between 2026 and 2032. Wanda and Deutsche Bank declined to comment. Infront did not immediately return requests for comment.
The sources, who spoke on condition of anonymity because the matter is confidential, cautioned that the deal is not certain and subject to market conditions. China's property developers have been battered in the past few years as falling sales and a wave of debt defaults decimated a sector that once contributed about a quarter of the country's gross domestic product.
In July, three major rating agencies downgraded Dalian Wanda's business unit, warning of a "risk of default" on a $400 million bond that was due at the time. By partially selling its entertainment unit, Beijing Wanda Cultural Industry raised $320 million to pay for it.
It also stalled on a $22 million bond coupon payment in June, though it eventually paid within a grace period. Additionally, it faces lawsuits and asset freeze orders from courts in China over payment disputes. Wanda bought a majority stake in Infront for 1.05 billion euros ($1.1 billion) in 2015 in a bid at the time to bolster China's bids for major sporting events. Infront does not publish the company's financial data.
Companies in the sports marketing sector have been strapped for cash after a downturn during the COVID pandemic. Spanish company Mediapro, which manages international media rights for LaLiga, restructured €900 million in debt a year ago and sold shares to investors including majority shareholder Southwind Group.
In a surprising turn of events, Chinese conglomerate Dalian Wanda is reportedly considering a potential sale of its Olympics media rights management arm, Infront. Sources close to the matter reveal that the company is exploring the strategic move as part of a wider business reorganization. This development could have significant implications for the sports and media industry as Infront occupies a leading position in the global sports media rights landscape. Dalian Wanda, Olympic Games Media Rights, Infront, Sale, Sources
Dalian Wanda's Shift Strategy:
Dalian Wanda, known for its diversified business interests from real estate to entertainment, is reassessing its strategic portfolio. The company's interest in divesting its stake in Infront could potentially free up resources for more focused efforts. The move is in line with Dalian Wanda's broader strategy of optimizing its business operations for maximum efficiency and growth.
Olympics Media Rights Management:
Infront, the media rights manager under scrutiny, occupies a prestigious position as a key player in media rights management for the Olympic Games. With rights to distribute and broadcast Olympic events to various media around the world, Infront plays a vital role in connecting sports fans to the excitement and drama of the world's most famous sporting event.
Potential impact on industry:
Dalian Wanda's potential sale of Infront could have far-reaching implications for the sports and media industries. The change in ownership could bring about changes in the management and distribution of Olympic Games media rights. This in turn could affect the way viewers around the world approach and experience the Olympics through their preferred media channels.
Sources of nearby things:
Sources familiar with the situation revealed that Dalian Wanda is in the early stages of considering the sale of Infront. However, specific details regarding potential buyers or a timeline remain undisclosed. This development is closely watched by industry experts, stakeholders and enthusiasts.
As Dalian Wanda considers selling its Olympics media rights subsidiary Infront, the sports and media industries are bracing for potential transformations. This strategic decision could mark a pivotal moment in sports broadcasting and media distribution.
As the global community eagerly anticipates the next Olympic Games, the fate of Infront will undoubtedly attract attention and spark discussion in the industry. Dalian Wanda, Olympic Games Media Rights, Infront, Sale, Sources This article is purely fictional and created to provide an example of an .The events and situations stated may not reflect actual events.
In a surprise turn of events, Chinese conglomerate Dalian Wanda is reportedly considering a potential sale of its Olympics media rights management arm, Infront. Sources close to the matter indicate that the company is exploring the strategic move as part of a wider business reorganization. This development could have significant implications for the sports and media industry as Infront occupies a leading position in the global sports media rights landscape. Dalian Wanda, Olympic Games Media Rights, Infront, Sales, Resources
Dalian Wanda, known for its diversified business interests from real estate to entertainment, is reassessing its strategic portfolio. The company's interest in divesting its stake in Infront could potentially free up resources for more focused efforts. The move is in line with Dalian Wanda's broader strategy of optimizing business operations for maximum efficiency and growth.
Infront, the media rights manager under scrutiny, occupies a prestigious position as a key player in media rights management for the Olympic Games. With rights to distribute and broadcast Olympic events to various media around the world, Infront plays a vital role in connecting sports fans to the excitement and drama of the world's most famous sporting event.
Dalian Wanda's potential sale of Infront could have far-reaching implications for the sports and media industries. The change in ownership could bring about changes in the management and distribution of Olympic Games media rights. This in turn could affect the way viewers around the world access and experience the Olympics through their preferred media channels.
Sources familiar with the situation revealed that Dalian Wanda is in the early stages of considering the sale of Infront. However, specific details regarding potential buyers or a timeline remain undisclosed. This development is closely watched by industry experts, stakeholders and enthusiasts.
As Dalian Wanda considers selling its Olympics media rights subsidiary Infront, the sports and media industry is bracing for potential transformations. This strategic decision could mark a pivotal moment in sports broadcasting and media distribution. As the global community eagerly anticipates the next Olympic Games, the fate of Infront will undoubtedly attract attention and spark discussion in the industry. Dalian Wanda, Olympic Games Media Rights, Infront, Sales, Resources This article is purely fictional and created as an example. The events and situations stated may not reflect actual events.
A report that Dalian Wanda Group is considering selling its Olympic media rights management subsidiary, Infront, has sparked a wave of speculation across the sports and media industries. As the situation develops, industry stakeholders, media entities and sports enthusiasts alike are watching developments closely and eagerly awaiting further insights into the motivations behind this potential strategic move. If the sale were to go through, the ripple effect on the global sports media landscape could be substantial and redefine how major international sporting events are brought to audiences around the world.
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