Tom Stultz anticipates little change in the near future as Host Communications settles into its new role as a division of the New York-based global sports, entertainment and media goliath, IMG.
"It should be business as usual. IMG is buying Host to have a platform to grow its collegiate business, and by being the first one in the rights business that they acquired, at least initially it should be business-as-usual at all of our locations as well as here in Lexington," explained Stultz, whose desk nameplate now reads senior vice president and managing director of IMG College Sports under a deal worth $74.3 million that was consummated in mid-November.
Triple Crown Media, Inc. (Nasdaq: TCMI) announced on Nov. 12 the sale of its Host Communications, Inc. businesses to IMG. Triple Crown will use proceeds from the sale of Host to pay down its debt, according to company officials.
In his new role, Stultz will now oversee Host's multimedia rights, publishing and association management.
"The association business will flourish under IMG," Stultz commented on a division of Host whose staff had been uncertain about the implications of the sale. The division handles the operations of the National Tour Association, the International Spa Association, American Volleyball Coaches, the International Coach Association; and Quest International Users Group. "They (IMG) don't have an association management division, so this gives us a nice platform to grow. IMG has 60 offices in over 30 countries, so it gives us some expertise on how to take our associations internationally even more than we have. They also have great contacts on the sponsorship and event management side that should help us.
Stultz said Host's headquarters with 175 employees will remain in Lexington. IMG