Fayetteville (ArkansasSports360.com) - IMG Worldwide Inc., a global sports, entertainment and media company, says it is buying ISP Sports, a U.S. college media rights management company that broadcasts Arkansas Razorbacks sporting events.
In a news release, IMG said "a definitive purchase agreement" has been approved and signed by both parties. Financial terms of the deal were not disclosed.
ISP of Winston-Salem, N.C., has marketing agreements with college athletic programs including Alabama, Auburn, Duke, Georgia, Notre Dame, UCLA and Virginia Tech.
ISP is entering its third season of a $73 million, 10-year agreement with the Razorbacks.
The deal, signed in 2008, was among the first major initiatives of Athletic Director Jeff Long, and represented a 67 percent increase in the yearly media revenue the university received in 2007, when UA football and basketball games were broadcast by Little Rock ABC affiliate KATV-TV, Channel 7's Arkansas Razorbacks Sports Network.
IMG said ISP will be combined with IMG's existing college sports group, which provides marketing, licensing and media services to universities.