Sony Corp. is bidding to become the latest major entertainment entity involved in professional sports, according to published reports Wednesday.
The Toronto Globe & Mail said Sony was involved in a reported $ 450 million deal that would include the sale of interests in the Los Angeles Kings and the L.A. Lakers.
In addition, the report said Hollywood Park was involved in the deal, which would include the construction of a new sports arena in the area where the Great Western Forum is located.
The report said a deal could be finalized by the end of the week.
A Kings spokesman went on KMPC Sports Radio Wednesday evening to discuss the Globe & Mail report, but would neither confirm nor deny that negotiations were ongoing with Sony.
Late Wednesday, a Lakers spokesman said, “No comment on any other thing other than the fact that (Lakers owner) Jerry Buss has no intention of selling control of the Lakers.”
The Globe & Mail did not specify the Sony entity involved in negotiations, but previous reports had the sale pegged to either Sony USA or Culver City-based Sony Pictures Entertainment (Daily Variety, Dec. 15, 1992). An SPE spokesman declined comment.
If the Sony deal pans out, it would be the latest example of a major entertainment company becoming involved in pro sports. Earlier this year, the Walt Disney Co. launched its NHL expansion team, the Mighty Ducks, while Paramount Communications Inc. owns Madison Square Garden, the New York Knicks and the New York Rangers.