Business

IMG buying North Carolina firm

The parent company of IMG College, a sports marketing agency with offices in Lexington, announced Wednesday that it is acquiring a North Carolina firm and will establish the division's headquarters there.

IMG Worldwide announced it is purchasing ISP Sports, a firm with more than 275 employees that also manages the media rights of university athletics programs. Among its clients are Duke, Georgia Tech, Wake Forest, Alabama and Auburn.

IMG Worldwide spokesman Jim Gallagher said it's not yet known how the acquisition will affect employees in Lexington. He said the division, the main offices of which are in Atlanta and Lexington, previously didn't have a headquarters per se.

The combined businesses will be led by ISP Sports founder and CEO Ben C. Sutton in Winston-Salem. The division's previous leader, Atlanta-based Pat Battle, will become chairman of the division. Lexington leader Tom Stultz will remain in a key leadership role, too, Gallagher said.

After the acquisition, IMG College will have more than 700 employees in 75 offices across the country and annual sales of more than $400 million.

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