Jul 12, 2012
Bloomberg L.P. has signed a partnership agreement with IMG Worldwide. IMG, who for years has been a major player in the world of sports, fashion and media, will work with Bloomberg to expand and accelerate the growth of Bloomberg’s sports division — Bloomberg Sports. Under the new partnership, the “Bloomberg Sports” name will be retained, even though the entity will be funded by both entities.
“We are very excited to partner with IMG, one of the most respected global leaders in sports and entertainment, to expand a business that was the brainchild of two entrepreneurial employees and incubated through Bloomberg in just two years,” said Dan Doctoroff, CEO Bloomberg L.P. “That team, led by Bill Squadron, has created a great foundation, and we are now positioned for growth into other sports both domestically and globally, with the assistance of IMG’s expertise.”
The new Bloomberg sports will still be majority controlled by Bloomberg and will keep offices in New York and London. As a strong minority player, IMG will be looking to provide enhanced marketing, and production assistance for existing and future Bloomberg Sports properties.
“There are few, if any global business brands more respected than Bloomberg, and we are proud to be able to align with them on this new venture, which we think will take the core business that they have built in analytics and expand it exponentially on a global basis,” said Michael Dolan, Chief Executive Officer, IMG Sports and Entertainment. “The ability to effectively use data to analyze and enhance the experience in sport for fans and for professionals has never been more important than it is today, and there is no company that has proven they can do it better, more efficiently and effectively than Bloomberg Sports.” (via Press Release)
For more information on the Bloomberg Sports/IMG partnership and Bloomberg’s products, visit their website.