BASS Will Be Sold

Interview With Jerry McKinnis

BassFan: Rumors have been swirling but the news was finally announced today. How does that feel? Is it exciting?

McKinnis: Yes, but I’ve been at this level for 5 months now. It’s exciting and a real release that the news came out. Now I don’t have to get in a closet when anybody comes around. I can kind of talk a little bit more.

I just have so many ideas and thoughts and all on my mind. But it’s still only an agreement in principle, so I have to keep a lot of that guarded a little bit.

But man, how do I feel? Number one, my two partners Don Logan and Jim Copeland are just magnificent. It’s just a perfect fit for the three of us. Jim’s such a wonderful financial man – he’s really out of this world with numbers and so on. And Don’s possibly one of the wisest men I’ve ever known. And I haven’t known him for very long, but it immediately strikes you (how wise he is). Then of course I’ve got all the experience right in the middle of all the wars and so on.

And incidentally, Don’s strength is publishing and that’s going to be wonderful. I guess my strength is just my stuff with the anglers, and that I’ve been there before – I know what they’re going through. And all three of us are bass-fishing nuts. Ray (Scott) of course was a big bass-fisherman. But there’s probably never been people so deeply involved in this who’d also like to stop talking right now and go bass fishing. I really think that’s great, because I think our passion is going to go a long way.

I do know too – I was about to say how passion doesn’t really relate to it being financially successful, but it does, and it will. I just firmly believe that. But I’m really looking forward to working with these two guys. It’s going to be great.

When did you first go on the hunt to purchase BASS?

It was just shortly after the (Bassmaster) Classic. That was 5 months ago, and throughout this period, there’s hardly been anything – neither side has hardly batted an eye. It’s just been such a really great negotiation and actually putting the things into operation of getting all the due diligence done – it’s been really great. I takes a long time – much longer than I expected.

But then on the other hand, that’s not a giant surprise to me (that the negotiations were so smooth). I read all the reports and hear the things and all about ESPN. But as you know, I have ESPN blood running through my veins. I always will. Yes, they’re a giant, giant corporation now. When I started working with them, gosh, they were a little bitty company. But they’ve done a lot for us. They’re not going to get any credit – everybody still wants to jump them for being a big corporation. And I do believe that’s human nature. All of us – the fishermen all over the country, bass fishermen – it sometimes seems we’re automatically against a big corporation.

“And this is not all about bass-fishing tournaments. It just has to be more than that, and we have to get back to that.” – Jerry McKinnis

But ESPN has done some really, really good things for our sport, and I don’t know where we’d be without them. Maybe it’s time for us all to go in not a different direction, but to have some different folks in here pushing the buttons.

ESPN’s still involved and we’re going to air on ESPN networks. We have a great contract with them to continue airing, so they’ll still be a part of us. But maybe it was time for a change there.

And you know, I think everybody got the wrong opinion when they (ESPN) got out of the outdoors. They didn’t get out of the outdoors because they didn’t think it was a great category and it wasn’t being successful. It had been successful for them for years and years. They got out because they just had a different philosophy – that all they’re going to have is event programming. Event programming and studio shows are what’s really, really doing well on ESPN, so they’re going in that direction. And when the time comes down the line, I think that’s all they’ll have. So the fishing shows on Saturday morning and the hunting shows didn’t fall into the category of being live events, or taped events, so they had to go by the wayside.

I just thought that throughout all that it was a shame that people didn’t understand that a little bit more. But of course The Bassmasters is an event, so we still fall right there in the category and can still be a part of it. So that’s good.

But I guess Don, Jim and I maybe will have some ways and ideas that will continue to grow this in some different areas and help us get out there and get some sponsors. That’s where we really need to work hard – to bring more sponsors into this.

At this point, if you could say one thing to the BASS membership, what would it be?

That I have a telephone number that everybody can use. That I have an absolute open door. And that I think many might already feel like this – that I’m kind of one of them. I think when I was on television, hopefully everyone thought I was just like they were. I was just going fishing on Saturday mornings, and we all went together. And I did my darndest to try to not make it look like I was doing something they couldn’t.

I have that same attitude here. I want everybody to know I’m right there with them and we’ve got to talk, and work out problems and all be together, and I think that’ll be a wonderful thing for everybody.

And you know what? Don and Jim would say the same thing. They’re willing to talk to anybody. I think that’s going to be a really good thing.

Certainly judging by the letters we receive here at BassFan, the bass anglers of this country want a new energy. They want to see BASS stickers on every pickup again. They want to get back into Washington and feel a part of something. Is that on your mind as you move toward the closing?

I want everybody to help me do that. It isn’t like I’ve got some kind of plan like: Boy, here’s what we’re going to do on the day it all becomes official. I don’t have a plan, and I want everybody to help me with that and really get a good one together that’ll make all the things you’ve just said happen.

I drive back and forth from here (Little Rock, Ark.) to north Arkansas, where I live, a lot. And you can imagine how many pickup trucks I see along the way. I count the BASS decals I see on those pickups. I think we can beat that with what I come up with. There’s not enough of them. But there again, by getting together and fighting for this thing arm-in-arm, we can get somewhere.

And this is not all about bass-fishing tournaments. It just has to be more than that, and we have to get back to that.

But I want to keep throwing in the fact here: We haven’t done this yet. We don’t own it yet. But the things we’re talking about are in a way pretty much common sense.

Are there any silent partners in the deal?

No, the two names I told you (Logan and Copeland) are the three people involved here.

So the rumors that Platinum Equity might somehow be involved are off-base?

Way off-base.

Were you bidding against any other parties in this sale process?

I really don’t know that. Obviously, we just dealt very closely and very tightly with folks at ESPN and BASS, so I really don’t know the answer to that one.

Career Sports & Entertainment (CSE) acquired your company, JM Associates. Are you still an employee of CSE or more of a consultant?

Actually I’m an employee of CSE. Everything’s just kind of like it’s always been. I don’t own BASS yet and I’m sure in time those things might change, but for right now, everything’s like it’s always been.

Do you foresee BASS headquarters potentially moving back to Alabama or perhaps Arkansas – in other words, to its birthplace, or the birthplace of competitive fishing?

That’s another one where we just have to wait and see a little bit. We haven’t gotten to that point yet. But I would tell you that last weekend down in Montgomery (at the BASS post-season), Ray Scott was talking to Don and Jim and myself. All four of us were standing there talking. Ray was talking about going up to Table Rock Lake in a little place called Aunts Creek, which had a little resort. And he and Glen Andrews – who was and still is a longtime friend of mine, a great fisherman – it was the two of them and myself and a guy from Little Rock named Harry Grimes, who’s since passed away.

The four of us had a little meeting about what all could happen with bass fishing. Ray was telling that little story, and it’s funny, because it was the first time we all got together and got to talking about what this could be. And then of course Ray went on from there. It’s kind of interesting.

And then Don (living) right there in the middle of where it all happened is also pretty amazing.

Was there a desire to announce the agreement in principle at that final BASS post-season event in Montgomery?

We were probably about ready to announce it, but didn’t feel like we wanted to do it right in the middle of the tournament. We kind of wanted to split up the news. In fact, just this morning I was telling Don I was going to get a computer and have an email address. He said, ‘Oh my gosh, don’t do that today. That’ll be bigger news than our announcement.’

Is there a timeline for when you expect to close? Are you thinking days, weeks, months?

Weeks. We’re shooting for the first part of September, and I bet we’ll be pretty close to that.

That’s pretty close to the February Classic.

I think they’ve got the Classic in good shape, and you know, I guess there could be a worse time for it to happen. So at least the big part of the season’s over and we can concentrate. And we still have plenty of time to concentrate on the Classic, which I think is in really good hands and in great shape.

Interview With Don Logan

BassFan: We asked Jerry McKinnis this same question: How do you feel now that news has landed of your intention to purchase BASS?

Logan: I’m excited. Of course, I’ve been an avid bass angler for a long time. Just being associated with a sport you really enjoy and believe in, with the long-term prospects of the business – it’s just about as good as it gets.

I was in magazines for most of my career, but that was only a part of it. I also sold advertising and sponsorships. And overseeing AOL, I certainly understand online and new media and the kinds of opportunities that exist there. As well, the TV operations we’ve had – I understand how those businesses work as well.

So I guess I kind of have a background that covers the full range of multimedia elements that the Bassmaster brand encompasses. I feel good about the opportunities and I feel good about working with it.

And I want to have some fun. I like Jerry – he’s a great guy. And Jim Copeland’s a great guy. Hopefully the business is going to be very successful and we’re going to have a good time doing it.

Do you consider yourself a passionate bass angler?

Very much so. (I came to it) later in life – I was probably about 40 when I took it up. And I’ve been to Brazil several times for peacock, and Mexico several times. I’ve got my own private lake I fish as well.

Do you fish any tournaments?

No, I’m not that good. And besides, I really haven’t had time to concentrate on tournament fishing. I really just do it for the fun.

Several folks have mentioned they remember you saying you’d like to own BASS some day. Were you looking into a purchase of BASS when it sold to ESPN?

No, I wasn’t. I think that probably came up because when Helen (Sevier) and her group sold to ESPN, I may have made some statement that my dream was to own Bassmaster magazine when I retired, and my dream job was I wanted to be the editor and be invited to all these great places to fish. I think I gave a quote like that after Helen and the group sold it to ESPN.

“It was a handshake agreement that he honored. He’s a great guy and keeps his word.” – Don Logan on ESPN and ABC Sports president George Bodenheimer

How did you get involved with this sale of BASS, and how did the trio of you, Jim and Jerry come about?

(Jerry and I) are both friends with the guy who oversees ESPN and ABC Sports – George Bodenheimer. I’ve known George for a long time. He knew I was interested if they ever were to sell it.

Part of it was he (George) said if he ever did (sell it), he’d let me know and give me the opportunity. It was a handshake agreement that he honored. He’s a great guy and keeps his word.

And Jerry – I really didn’t know him. Obviously I knew who he was and watched his show for many, many years. George then talked about maybe our looking at it and buying it as a team. George holds Jerry in high regard, and he thought we’d make a great pair to run this business.

How did Copeland get involved?

Jim’s a friend of mine. He and I fish together. We’ve been on a lot of trips. We’re the guys who go out when it’s 100 degrees, fish and smoke stogies and do it from daylight until dark because somebody has to. So he’s a fishing buddy.

But we were both in New York at the same time – we were both southern guys who spoke funny up there. He was a lawyer at an international firm and I was running Time Inc. and our careers overlapped. We met there and have been fishing together ever since.

Can you discuss any financial terms of the deal?

Those are going to remain confidential. It’s a small deal for ESPN, obviously, so we respect their wishes and it’s not something we wanted to publish either.

Can you discuss the expected timeframe of the closing?

We’re all anxious to close it as quickly as possible. Both sides are. Once something becomes public, it’s in everyone’s interest to close it as quickly as possible. It’s going to be several weeks at a minimum, maybe a little longer. There are a wide range of things (to finish).

BASS offers media across every platform available. It also has a very strong print publication, yet in the current market, print media has its struggles and several outdoor magazines have changed hands in recent years. Do you see BASS’s print media as a challenge or an opportunity?

I don’t even think about it that way at all (as a challenge). We look at it as great opportunities. BASS is a great brand with a large following that’s strong. Bassmaster is unique in that there are a lot of very passionate bass anglers out there and fans that we expect to be readers. A lot of them already are and have been. You yourself (BassFan) got into this business because you thought the audience was large enough to create a business around. I think magazines work the same way, and all the (media) platforms work together to form an integrated product.

Will your sons Jeff and Stan, who run Seek Publishing, be involved in BASS?

They will be. Everything I do is always a family thing. They’re both bass fishermen as well, and they’ll be engaged in some way.

We also asked Jerry this same question: Do you foresee BASS headquarters moving back to Alabama or perhaps Arkansas?

It’s going to stay in Florida. Whether anything changes sometime in the future, we have no idea. We have no plans at all for making a decision like that right now.

Interview With ESPN/BASS Spokesperson Doug Grassian

BassFan: Can you discuss the timeline of this sale process – specifically, when did ESPN begin to explore the possibility of selling BASS?

Grassian: I don’t think I can tell you any timeline. I can just say that we heard from a number of parties.

Why did ESPN decide to sell BASS?

There’s a strategic direction at ESPN that’s taking it more toward live programming and to focus its programming assets on what it’s good at, and that’s live- and event-based programming. From that perspective, the BASS programs will still stay on the ESPN network and BASS will continue to reap the benefits of that exposure.

Then, the trio of investors – Don Logan with his success, and Jerry McKinnis who’s passionate about the brand and who has a reputation in the industry with fans and members, and his savvy with multimedia as well – it’s a really good fit. And ESPN knows that BASS will be in capable hands, and that’s certainly a factor in any transaction.

“ESPN isn’t immune to the current state of the economy, but the decision wasn’t solely based on economic reasons.” – ESPN/BASS spokesperson Doug Grassian

ESPN did want to get BASS into capable hands, and when you look at these guys – their experiences and successes from all three ends – these are guys who’ve had a lot of different experiences and they’re all very passionate about the brand and bass fishing. Not only do they bring business acumen, but familiarity with BASS and the brand and bass fishing, which should help things move forward.

Can you comment on when the sale is expected to close?
It’s hard to put any timeline on it. Again, this is an agreement in principle, and the way that’ll work – there’s no guarantee anything will happen. While we fully expect the sale to go through, there’s no guarantee. So the timeline is tough to say – there’s still some work to do.

And the reason behind the agreement in principle was the amount of rumors in the marketplace were obviously rampant. Anglers and sponsors and staff – all those people were aware to some degree that something was going to happen. In order for ESPN and the new ownership to be transparent, the best way to do that was to get out in front of people and let them know what’s going on.

Actually, it’s a rarity for ESPN to announce an agreement in principle.

Was ESPN’s decision to sell BASS at all a reflection of the financial performance of the division?

ESPN isn’t immune to the current state of the economy, but the decision wasn’t solely based on economic reasons. It’s in line with the ESPN strategic decision to focus more on live- and event-based programming.

When the sale is completed, ESPN will have owned BASS for about a decade. Is there anything the company would say today to the BASS membership?

ESPN’s proud of its nearly 10-year ownership of BASS and will continue to air BASS programming in weekend timeslots. It was a difficult but appropriate business decision given the strategic direction ESPN has determined.

Appendix 1: ESPN Press Release Announcing Agreement In Principle

ESPN Inc., announced Tuesday that it has reached an agreement in principle to sell BASS, LLC to a group of investors led by Don Logan, Jerry McKinnis and Jim Copeland.

BASS is the largest membership organization of bass anglers in the U.S. with more than 500,000 members. It was purchased by ESPN in 2001 and includes several media platforms, including three magazines and a popular website.

The purchasing party will assume ownership of all BASS’s assets after the completion of the sale.

“The investor group, with its enthusiasm for the brand, will continue to serve BASS’s interests with anglers,” said Traug Keller, ESPN senior vice president, production, business divisions.

As part of the agreement in principle, BASS’s core television programming assets – the Bassmaster Elite Series and Bassmaster Classic – will remain on ESPN networks.

Investor and outdoorsman McKinnis has a long history with ESPN as the host of the network’s second-longest-running show, The Fishin’ Hole, which aired from 1980 until 2007.

Retired Time Inc. executive and avid angler Logan at one time oversaw Time Inc., America Online, Time Warner Cable and the Time Warner Book Group before his retirement from the media giant in 2002.

Georgia native Copeland retired as U.S. and Global CEO of international financial services firm Deloitte in 2003 and currently serves on the board of directors of three Fortune 500 companies.

“I am eager to begin working with the anglers, sponsors, and supporters to bring an even more exciting BASS business to its fan base,” said McKinnis.

“This group is looking forward to working with the fishing industry’s strongest brand and plans to make BASS even more relevant in the multimedia world,” said Logan.

Until a sales transaction is finalized, BASS will continue to operate under ESPN’s ownership.