Reuters: Sports News: NFL, Providence Equity form strategic investment partnership

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NFL, Providence Equity form strategic investment partnership Mar 19th 2013, 01:06 Tweet Share this Email Print Analysis & Opinion Private equity at 4-and-20? Think twice The NFL logo appears on an entrance door to the football stadium at Super Bowl XLII in Glendale, Arizona February 2, 2008. Credit: Reuters/Mike Blake NEW YORK | Mon Mar 18, 2013 9:06pm EDT NEW YORK (Reuters) - The National Football League and Providence Equity Partners announced on Monday that they have formed a strategic partnership to focus on investing in sports- and entertainment-related media assets. The NFL and the New York-based private equity firm said they will commit equity and jointly operate the global strategic partnership. Terms of the commitments were not public. The partnership will target growth equity investments of approximately $25 million to $50 million in private companies around the world and have the ability to make larger investments. Paul Salem, a senior managing director at Providence, said: "We believe there are many traditional and digital media properties that complement the NFL's business and can add lasting value." Providence, which specializes in media, communications, education and information companies, has invested in more than 130 companies globally since the firm's inception in 1989. Some of its current investments include movie and television production company The Chernin Group, Spanish language media company Univision Communications Inc, and Yankees Entertainment and Sports Network. (Reporting By Nadia Damouni; Editing by Chris Gallagher) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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