Tuesday, March 20, 2012
Journal IDs Pittman, Lerer as buyers
By Adam Rubin
The Wall Street Journal has identified Bob Pittman and Kenneth Lerer as two minority investors in the team, although the report states that combined they did not purchase a full $20 million, 4 percent share. Writes Brian Costa in the Journal:
Pittman is CEO of Clear Channel Media Holdings. Lerer is manager of Lerer Ventures, a seed stage venture capital fund, and a co-founder of the Huffington Post. His investment was made with personal funds, the person said. Pittman and Lerer, a longtime friend of Mets principal owner Fred Wilpon, purchased only a portion of a 4% stake in the team. It’s unclear how much they invested or how many other investors chipped in with them.