Sony Corp. will cut $250 million in costs at its entertainment units over two years, part of Chief Executive Officer Kazuo Hirai’s plan to boost profit and keep full ownership of the movie, TV and music businesses.
Peter Guber, chief executive officer of Mandalay Entertainment Group and co-owner of basketball’s Golden State Warriors, joined Magic Johnson’s contingent trying to buy Major League Baseball’s Los Angeles Dodgers, a person with knowledge of the situation said.
Joe Lacob and Peter Guber bought the Golden State Warriors for $450 million, spending a record amount for a team that had the second-worst record in the National Basketball Association during the current owner’s tenure.
Peter Guber, chief executive officer of Mandalay Pictures LLC, and Joe Lacob, a partner at Kleiner Perkins Caufield & Byers, won a bid for the National Basketball Association’s Golden State Warriors, CNBC reported.
The sale of the Sacramento Kings to a group led by Tibco Software Inc. founder Vivek Ranadive was completed for a National Basketball Association-record $534 million, ending the 14-year ownership of the Maloof family.
Basketball Hall of Fame member Magic Johnson and a group of investors that includes Guggenheim Partners Chief Executive Officer Mark Walter won the auction for the bankrupt Los Angeles Dodgers with a bid of more than $2 billion, doubling the previous record amount paid for a major U.S. professional sports franchise.
A Seattle-based group led by Valiant Capital founder Chris Hansen raised its bid for the Sacramento Kings by $75 million to $625 million, five days before National Basketball Association team owners vote on whether to approve relocation.