Daily Racing Form May Be Sold
Updated: Thursday, April 29, 2004 1:05 AM
Posted: Tuesday, April 27, 2004 8:38 AM
Alpine Capital Bank, which purchased Daily Racing Form for $40 million in 1999, may be close to selling the 110-year-old daily to The Wicks Group for a reported $60 million.
The Wicks Group, led by New Yorker Carter Bales, is a growing media-investment company that targets among other things "specialty publishing." Bales serves as co-chairman of The Wicks Group with Craig Klosk. Bales last week referred any questions on the subject to Klosk, who declined to comment.
Ed Aboodie's Alpine Capital Bank, and other investors including publisher Steve Crist, purchased the DRF from Primedia Inc. in 1999 when that company was in the process of divesting many of its business interests. The New York Post
puts The Wicks Group offer at more than $60 million.
Crist would not confirm any ongoing negotiations with The Wicks Group, but acknowledged it's the owner's policy to listen to all offers.
"Everything is for sale at the right price," Crist said.
reports The Wicks Group is interested in expanding into the sports and wagering market. The DRF Web site, which according to the Post
is growing 25% annually, also piqued The Wicks Group's interest.
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