Ex-Yahoo Boss Semel Making Run For IMG: Report

06/10/2008 05:12 am ET | Updated May 25, 2011
  • NY Post

Former Yahoo! and Warner Bros. Entertainment CEO Terry Semel plans to make a run at acquiring private-equity investor Teddy Forstmann's IMG marketing and talent agency, The Post has learned.

According to several sources with direct knowledge of the situation, Semel has been meeting with private-equity firms and the sovereign wealth funds of the United Arab Emirates, and has raised enough money to do a significant transaction.

One of these sources said Semel recently sat down with Forstmann and his bankers at Goldman Sachs, who have been working with IMG on various initiatives since last summer, to gauge their interest.

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