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| Thursday, September 26 Disney steps up effort to sell sports teams Associated Press |
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ANAHEIM, Calif. -- The Walt Disney Co., interested for several years in selling the Anaheim Angels and Anaheim Mighty Ducks, hired a New York Investment firm to search for buyers. The decision to retain Lehman Brothers signaled a stepped-up effort by Disney to sell the teams after some three years of holding intermittent talks with potential buyers. Disney is also the parent company for ESPN. Tim Mead, vice president of communications for both teams, confirmed Thursday that Disney contracted Lehman. Disney paid $140 million for controlling interest in major league baseball's Angels in 1996 and a $50 million expansion fee for the NHL's Ducks, who began playing in 1993. Also Thursday, Paul Pressler, the Disney executive who oversees the teams, announced he was leaving the company to become chief executive at Gap Inc. The Angels clinched a wild-card berth, their first playoff spot since 1986, with a 10-5 victory over Texas on Thursday. The Ducks have made the playoffs just twice in their nine seasons. Both teams ostensibly would remain in Anaheim, since Disney is expected to make that a requirement for any sale. |
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