'Magic' Part of Guggenheim Group Purchasing LA Dodgers for Record $2 Billion - Broadcasting & Cable

'Magic' Part of Guggenheim Group Purchasing LA Dodgers for Record $2 Billion

Unclear if Fox, Time Warner Cable are part of the winning bid
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The Magic number was $2 billion.

That's what a group led by Mark Walter, chief executive officer of the financial services firm Guggenheim Partners, and Los Angeles Lakers legend Earvin "Magic" Johnson are paying to acquire the Los Angeles Dodgers from Frank McCourt out of bankruptcy court.

The deal, the richest ever for a pro sports franchise, would see Walter become the controlling owner, while Johnson will evidently be hands-on -- he said he'll have an office at the ballpark on an interview with ESPN. Veteran baseball executive Stan Kasten -- Atlanta Braves and Washington Nationals -- is also part of the ownership group.

Johnson also has an ownership stake in Aspire, one of four new minority-based networks that Comcast will launch as part of a 10-channel commitment the cable company made to the federal government in order to finalize its joint venture with NBCUniversal.

Click here to read the full story at Multichannel News.

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