Parallel Investment Partners has sold Action Sports Media to Learfield Sports and ISP Sports. No financial terms were disclosed. Action Sports Media is an Alcoa, Tenn.-based collegiate sports marketing company. It was advised on the sale by Morgan Keegan & Co.
Learfield Sports and ISP Sports officially have come to terms in the joint acquisition of Action Sports Media, as announced today by Learfield Sports' President Greg Brown and ISP Sports' Chairman and CEO Ben Sutton.
This move signals accelerated growth in the collegiate sports marketplace for Learfield Sports and ISP Sports, both of which are recognized leaders in the space managing multimedia rights for more than 40 and 45 properties, respectively. Financial terms of the deal were not disclosed. It is inclusive of all existing contracts with arena and stadium signage that Alcoa, Tenn.-based Action Sports Media previously held with its seven university partners