All posts by Richard

NBA Commissioner Adam Silver reinforces NBA’s stance on sports betting

By Richard Foster-Shelton
Medill Reports

LOS ANGELES – NBA Commissioner Adam Silver emphasized his belief that the NBA should receive a 1% “integrity fee” if the Supreme Court gives all 50 states the option to legalize sports gambling as expected later this year.

“From the NBA’s standpoint, we will spend this year roughly $7.5 billion creating this content, creating these games,” Silver said during his annual state of the league address. “This notion that as the intellectual property creators that we should receive a one percent fee seems very fair to me.”

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Stars turn out for All-Star Weekend bowling fundraiser for LadyLike Foundation

By Richard Foster-Shelton
Medill Reports

LOS ANGELES — Publicly, All-Star Weekend is notable for being a time when celebrities descend on the host city to enjoy a work-free weekend. Privately, one woman worked tirelessly behind-the-scenes to make sure the gathering of big names was not in vain.

On Thursday, Leah Cher Pump, president and CEO of the LadyLike Foundation, hosted the inaugural NBA All-Star Weekend Celebrity Bowling Classic at Lucky Strike Lanes at L.A. Live. The event, which featured appearances from celebs such as Paul Pierce, Isiah Thomas, Terrell Owens, benefited the non-profit organization.

It seems the planning for such an event would have waited until the NBA announced this year’s host city of Los Angeles, which was March of 2016. But Pump explained to Medill Reports that this moment was years in the making. Continue reading

Madison Square Garden beats estimate

By Richard Foster-Shelton

Medill Reports

Madison Square Garden Co. (NYSE:MSG), based in New York City, reported healthy increases in revenues and net income, exceeding analysts’ expectations, for the second quarter ended Dec. 31.

Helped by a tax benefit, the company reported net income of $189.6 million, or $7.96 per diluted share, up from $57.7 million, or $2.39 per share, in the year-earlier quarter. Analysts estimated $2.01 per share.

The second quarter net income included a non-cash income tax benefit of $113.5 million, which the company said will reduce net deferred tax liabilities.

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