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Allen Sells "The Sporting News".(Paul Allen)
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Multichannel News
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September 11, 2006
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Copyright informationCOPYRIGHT 2006 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Mike Farrell
Charter Communications Inc. chairman and Microsoft Corp. co-founder Paul Allen sold The Sporting News last week, perhaps for less than half of what he paid for it six years ago, according to published reports.
Vulcan Media Ventures, Allen's personal investment vehicle, purchased The Sporting News in 2000 from Times Mirror Co. for $100 million, and announced last week that it sold the publication to American City Business Journals, a unit of Advance Publications, for an undisclosed sum.
Although the purchase price wasn't announced, some published reports put the sale at between $35 million and $40 million for the magazine, its online and book ...
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