Magazines. Detroit-based Tech and sports entrepreneur Dan Gilbert and motivational speaker Tony Robbins are together said to be favourites to buy Sports Illustrated from Meredith Corp for a price believed to be c$120m. Gilbert is the founder of Quicken Loans and Rock Ventures, and owns the Cleveland Cavaliers basketball club. Private equity firms are said to dominate the bidding for Time and Fortune magazines. Jay Penske is said to have withdrawn from the bidding. The sales of the legendary former Time Inc magazine brands are expected to be complete by the end of August, although the Sports Illustrated deal may be announced next week.
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Sports Illustrated to be sold soon
