Wasserman Media Acquires U.K.-Based Media and Sports Rights Group Reel Enterprises
Reel co-founders David Kogan and Sara Munds will join WMG to develop a global media rights practice based in London.
LONDON -- Casey Wasserman's Wasserman Media Group looks set to become a global sports rights market-maker after acquiring U.K.-based rights manager and advisory firm Reel Enterprises outright.
Wasserman, the LA-based sports and entertainment agency whose clients include the New York Jets, T-Mobile and American Express, will launch a U.K.-based rights practice under the deal, potentially overseeing billions of dollars of sports rights auctions.
Reel Enterprises, the privately held company founded by former Reuters and BBC executive David Kogan and GMTV exec Sara Munds, is one the most influential specialists in the world at pricing and packaging sports rights for broadcasters -- having overseen over $16 billion in deal contracts since launching 13 years ago.
The London-based firm advised the International Olympic Committee on the European sale of TV rights to the 2010 and 2012 Olympic Games and has acted for the U.K. Premier League since 2000, creating a multibillion dollar market for U.K. pay TV, free-TV and digital soccer rights. Other clients include the NFL, the English Football League and a host of broadcasters including the BBC, ITV and Channel 4.
"The deal with Wasserman gives us a global platform to drive the value of their media assets," said Kogan, whose expertise will help to strengthen Wasserman's existing domestic media rights and consulting businesses.
Kogan and Munds will join Wasserman to develop a global media rights practice based in London, reporting to Casey Wasserman, Wasserman Media Group chairman and CEO.
"David and Sara have developed an unparalleled global rights business with the most respected and accomplished business in the sector," said Wasserman.
"By integrating Reel into the Wasserman platform, we are making a significant step in our efforts to offer rights and media representation in the U.K., he added.
Financial terms were not disclosed.