August 11, 2019 / 5:27 PM / 2 months ago

BlackRock poised to become Authentic Brands' largest shareholder - WSJ

FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo

(Reuters) - BlackRock Inc is taking a stake in Authentic Brands Group LLC in a deal valuing the U.S.-based entertainment company at more than $4 billion including debt, the Wall Street Journal reports on Sunday citing sources.

BlackRock is poised to become the largest shareholder of the company, replacing private-equity firm Leonard Green & Partners as Authentic Brands’ largest shareholder, the WSJ said.

BlackRock and Authentic Brands were not immediately available for a comment on the report.

Reporting by Rishika Chatterjee in Bengaluru; Editing by Lisa Shumaker

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