Wasserman Completes Sfx Buyout

US sports marketing giant Wasserman Media Group has completed its long-mooted
takeover of the European arm of SFX Sports Group, the marketing agency that
represents a host of sports stars including footballers Michael Owen and Steven
Gerrard.

Wasserman’s acquisition of SFX Sports from Clear Channel gives the new parent
agency a significant foothold in the European market across a number of
different sports, most noticeably football and rugby.

Through the union, SFX Sports will become part of WMG Management. No price
has been disclosed for the transaction.

In announcing the completion of the
deal, Casey Wasserman, CEO and chairman, Wasserman Media Group stated: ‘As WMG
continues to bring additional assets to our clients and portfolio, the
acquisition of SFX and the unquestionable popularity of football is a great
springboard to expand our presence in Europe.’