ESPN selling BASS to investment group
LSONews.com
ESPN agreed in principle on Tuesday to sell BASS to a group of investors, according to ESPN.
If the deal goes through, the group will acquire ownership of all of BASS’s assets including three magazines and a Web site.
According to Doug Grassian, communications manager for ESPN outdoors, news on the possible sale was released to inform people of a possible deal.“We wanted to be fully transparent with all of our constituents by letting them know what is going on,” Grassian said.
The core programming, which includes the Bassmaster Elite Series and the Bassmaster Classic, will remain on the ESPN programming block for several years.
Although a date for completion of the deal has yet to be set, Grassian said that a final agreement between the two parties would take time.
Grassian said the group of investors includes Don Logan, Jerry McKinnis and Jim Copeland, all of whom have experience in the media and outdoors industry. Grassian has high expectations for the group, and feels the transition in leadership will be a smooth one.
“The purchasing parties provide a nice transitional point for the business because of their familiarity and successes in the media industry,” Grassian said.
BASS was purchased in 2001 by ESPN, which began airing various programs on its ESPN2 network.
In May ESPN announced it would cancel all of its outdoors programming at the end of 2010. The decision was made by the network to focus on more events-based programming, which left little room for fishing-oriented shows.
BASS is currently the largest membership organization of bass anglers in the U.S., having more than 500,000 members.
Until an agreement is reached, BASS will continue to operate under ESPN's ownership.
