July 28, 2010

Complete IMG Release in PDF Format

NEW YORK - IMG Worldwide, Inc. (IMG), a premier global sports, entertainment and media company, and ISP Sports, a U.S. college media rights management company and multi-media rightsholder for Washington State University, announced today that ISP has agreed to be acquired by IMG.

A definitive purchase agreement has been approved and signed by the parties. Closing is anticipated promptly following certain regulatory approvals and customary closing conditions. Financial terms of the transaction were not disclosed.

ISP, headquartered in Winston-Salem, NC, has marketing agreements with some of America's best-known college athletic programs under management, in addition to conferences, events and venues across the country. With more than 275 employees, ISP is a multi-media rightsholder for WSU along with more than 50 schools nationwide including Alabama, Arizona State, Auburn, Baylor, California,Duke, Georgia, Georgia Tech, Notre Dame, South Carolina, Syracuse, UCLA, Virginia Tech, Wake Forest and Washington, among others.

ISP will be combined with IMG's existing college sports group, which provides marketing, licensing and media services to universities.

"We are very pleased to add ISP Sports to IMG's college sports business," said Ted Forstmann, Chairman and CEO of IMG. "Ben Sutton (founder and CEO of ISP) and his team have built a terrific company, representing some of the most prominent names in college athletics.

"This acquisition will complement our existing college business, which is an increasingly significant part of IMG, and demonstrates our continued focus on investing in businesses that provide substantial future growth opportunities for IMG," Forstmann added. "It will also be terrific for the college sports fan as this combination provides a great opportunity for us to provide more, better and higher quality programming, as well as expanding the base of customers."

"I am very proud of the team and business we have built over nearly 20 years at ISP," said Ben C. Sutton, Jr. "We are excited about the potential for future growth as part of the incredible company Ted Forstmann and his team at IMG have developed over the past five years. This move will provide our client institutions the opportunity to expand new revenue growth platforms as they seek new and incremental funding sources to build and sustain competitive athletic programs, as well as to help fund their educational programs. In addition, it will create tremendous benefit for our sponsors by increasing competition for national sales in the college environment, and by providing them with new and enhanced services and increased efficiency."

ISP, which began a 10-year agreement as WSU's multi-media rights holder in the fall of 2008, manages the Cougar Sports Radio Network, corporate marketing opportunities involving hospitality events, on-site promotions at WSU football and basketball games, and oversees sales for all signage at Martin Stadium, Friel Court at Beasley Coliseum and all Cougar competition sites.