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Carlyle Group cofounder David Rubenstein is fronting a group buying the Baltimore Orioles, reports say. Fellow private equity billionaire Michael Arougheti is also expected to be involved in the deal. AdvertisementFamed private equity investor David Rubenstein is reportedly planning to buy the Baltimore Orioles. Puck broke the news Tuesday that the Carlyle Group cofounder and Baltimore native is fronting a group expected to take a 40% stake in the Major League Baseball franchise. AdvertisementThe Orioles are owned by the Angelos family, who bought the MLB franchise in 1993.
Persons: David Rubenstein, Angelos, Puck, Michael Arougheti, , Cal Ripken, Jr, Rubenstein, he'll, Peter Angelos, John, Carlyle, Josh Harris Organizations: Carlyle, Baltimore Orioles, Major League Baseball, Service, Carlyle Group, Baltimore, Ares Management, Orioles, MLB, Financial, National Basketball Association, Apollo Global, National Football League's
Byron Allen, founder, chairman and CEO of the Allen Media Group, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Byron Allen, the media mogul offering $14 billion for Paramount Global , told CNBC on Wednesday that he has the money to finance a deal, despite skepticism around his deal-making. Allen told CNBC he hasn't received a response from Paramount to his most recent offer. Paramount reported in its third-quarter earnings report that its streaming platform, Paramount+, increased its subscriber count to 63 million. Allen told CNBC he wants to buy Paramount for its linear networks, what he says is the most challenging part of the company.
Persons: Byron Allen, Allen, hasn't, Shari Redstone, David Ellison's, Tegna Allen, of Famer Babe Ruth, Babe Ruth, Ruth, Paramount's, — CNBC's Alex Sherman, Julia Boorstin Organizations: Allen Media Group, Milken Institute Global Conference, Paramount Global, CNBC, Federal Communications Commission, Street, Paramount, CBS, Showtime, Nickelodeon, Media, Paramount Pictures, Warner Bros, Black Entertainment Television, VH1, Bloomberg, Scripps, ABC, Disney, National Football League's, The Weather, of Famer, Netflix, CNBC PRO Locations: Beverly Hills , California, U.S, E.W
Manchester United is widely seen as one of the most prized assets in all of sport. Shares of Manchester United jumped nearly 15% on the news, before paring some gains. Manchester United would not be allowed to negotiate with any bidder other than Sheikh Jassim for the exclusivity period. The sources cautioned that the situation remained fluid and a new bid from Ratcliffe could prevent Sheikh Jassim from securing exclusivity. Representatives for Manchester United and Sheikh Jassim did not immediately respond to requests for comment.
Persons: Qatar's Sheikh Jassim bin Hamad, Glazer, Jim Ratcliffe, INEOS, Sheikh Jassim, Anirban Sen, Amy, Jo Crowley, Greg Roumeliotis Organizations: Manchester United, Qatari, Manchester United . Manchester United, National Football League's Washington, Representatives, Deloitte, Thomson Locations: Thani, Ratcliffe, New York, London
Financial terms of the deal, which is subject to league approval, were not disclosed though reports in April said the agreement was for an NFL-record price of $6.05 billion. "We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners," Commanders co-owners Dan and Tanya Snyder said in a news release. "We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years." "We look forward to the formal approval of our ownership by the NFL in the months ahead and to having the honor to serve as responsible and accountable stewards of the Commanders franchise moving forward." In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.
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