August 3, 2010

BASS Sold!

Just saw this on Bassfan.com. More details to follow.

The long-rumored sale of BASS by ESPN took a big step forward today as the company announced in a press release that it's reached an agreement in principle to sell the organization to a group of investors led by Don Logan, Jerry McKinnis and Jim Copeland. 

The purchasing party will assume ownership of all BASS’ assets after the completion of the sale. “The investor group, with its enthusiasm for the brand, will continue to serve BASS’ interests with anglers,” said Traug Keller, ESPN senior VP of production, business divisions. 

As part of the agreement in principle, BASS’ core television programming assets – the Bassmaster Elite Series and Bassmaster Classic – will remain on ESPN networks. 

Investor and outdoorsman McKinnis has a long history with ESPN as the host of the network’s second longest-running show, The Fishin’ Hole, which aired from 1980 until 2007. “I am eager to begin working with the anglers, sponsors, and supporters to bring an even more exciting BASS business to its fan base,” said McKinnis. 

Retired Time Inc., executive and avid angler Logan at one time oversaw Time Inc., America Online, Time Warner Cable and the Time Warner Book Group before his retirement from the media giant in 2002.
“This group is looking forward to working with the fishing industry’s strongest brand and plans to make BASS even more relevant in the multimedia world,” said Logan.

Georgia native Copeland retired as U.S. and Global CEO of the international financial services firm Deloitte in 2003 and currently serves on the board of directors of three Fortune 500 companies.
Until a sales transaction is finalized, BASS will continue to operate under ESPN’s ownership. 

 
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