An NBA team owner and media investor, Bruce Levenson, has been acknowledged for his industrialist activities. Levenson is associated with a TechTarget, a company operating in the technology field, which he is a founding member. TechTarget provides services in the media sectors such as the creation of online content and conducting brand advertising to promote businesses.
Levenson served as a representative of his Atlanta Hawks team within the NBA Board of Governors where he was the Governor. United Communication Group- UCG is a company, which Levenson formed along with Ed Peskowitz. The formation of this company was the starting point for Levenson’s business career.
It was not a big business by the time it was started considering that its offices were located in a storeroom. The two personalities started the company in an apartment in Gaithersburg, Maryland, which belonged to Levenson. One may wonder the kind of vision of these guys had.
A newsletter dubbed Oil Express was the first product for UCG since its inception in 1977. This newsletter was publishing news and stories that covered the oil industry. Through the efforts of Levenson and Ed Peskowitz, their media outlet started growing, and it is what has become the well-known UCG brand in the media today.
UCG publishes information regarding to news, data, and analysis often covering numerous sectors ranging from mortgage banking, energy, technology, healthcare, and telecommunications. It has become a resourceful tool for insights and engaging information and data, which businesses in these sectors count on for their research and market studies.
UCG has also ventured in the mobile technology world having established an app, which motorists use to locate gas stations that are selling their fuel at a low price. This app is referred to as GasBuddy and helps motorists to cut back their fuel consumption by ensuring that they fuel in the least priced gas stations.
Levenson has previously invested in NBA team, which was recently sold out to a group represented by an investor known as Tony Ressler. Atlanta Hawks basketball team had been under the co-ownership of Levenson with other individuals including Ed Peskowitz. However, in September 2014, Levenson voiced his plans to relinquish the ownership of his controlling shares.
It may have been a decision, which surprised many people, however, it seemed that he was not the only one going that path, because in January 2015, the other partners who had owned Atlanta Hawks also denounced their ownership and said they would too be willing to sell their shares.
The deal for selling Hawks had been going until it sold to Ressler’s team. Ressler worked along other interested parties and offered their bid to purchase the team. While the bid was somehow low, they topped up the amount and bought the team slightly higher than they bided.
It sold at $850 million thought their offer initially stood at $730 million. Levenson and his colleagues were impressed with the sale deal, which allowed the team to sell at 27 percent more than what the group seeking the new ownership had offered on the table in their auction bid.