Bruce Levenson has owned various businesses in the media sector including TechTarget and United Communication Group- UCG. He started UCG in partnership with Ed Peskowitz, a company that saw a humble beginning but a bright future. UCG is now a leading publishing company that covers information concerning news, data, and analysis.
The company now serves different businesses within the telecommunications, energy, healthcare, technology, and mortgage banking sectors. UCG started in 1977 when Levenson and Ed Peskowitz met to discuss the possibility of having a joint partnership in a business.
Its first products were a newsletter bringing stories about oil industry development to the market. That newsletter was given the name Oil Express. UCG is an industry leader that is relied on up to offer insightful data and news information to businesses.
Apart from the investment in media and press sectors. Levenson has also been seen in the sports world. He has been a co-owner of a renowned NBA team, Atlanta Hawks. This is a team, which he and others owned since 2004. In this year, a company known as Atlanta Spirit LLC came into formation. This company later transformed and changed to Atlanta Hawks LLC.
The formation of Atlanta Spirit LLC was not one without an aim. The Atlanta Spirit LLC. was founded to provide a bridge, which would lead to the purchase of the Atlanta Hawks, Thrashers, and operation rights of Philips Arena. Levenson and Ed Peskowitz became the majority shareowners of Hawks.
In the deal involving the purchase of Hawks was another team called Thrashers, though it was sold back in 2011. The Hawks, Thrashers, and Philips Arena’s operating rights were bought from a media company known as Turner Broadcasting System, which today is referred to as the Time Warner.
In 2014, Levenson gave an announcement that left many people surprised. He said that he would no longer continue being part of the ownership deal of Hawks. Therefore, he would be willing to let go his shares in the team. This decision meant that he would offer the controlling shares he had for sale to interested parties.
It was not long after Forbes billionaire Levenson‘s decision that the other owners of Hawks too gave their own stance. They said that they would also sell their interest in the team. These other owners made their decision in January 2015. Different auction bidding groups were invited to take part in the sale process. However, a group that was being led by Tony Ressler was awarded the right to purchase the team. This group had bided for the ownership of the team by offering $730 million.
However, it ended up paying $850 million to own Atlanta Hawks. Deals involving the sale of NBA franchises have seen a transformation in recent times. The NBA franchises have witnessed a change in their valuations. They have attracted more value due to the rewarding TV deals they have been involved. In the past few years, the NBA franchises were not attracting good prices in their sale deals, but this seems to have changed.