NFL

Providence Equity to pass on IMG after Learfield deal

IMG Worldwide, the sports, fashion and media heavyweight, has one less potential suitor.

Private-equity firm Providence Equity Partners, which is looking to scoop up sports and sports-related media properties, has likely taken itself out of the running to buy IMG with its deal to acquire a majority stake in Learfield Communications, The Post has learned.

While terms of the Learfield deal were not disclosed, Providence is believed to have paid around 10 times earnings before interest, taxes, depreciation and amortization, or Ebitda, for its stake in the company, which, sources said, is less than $1 billion.

IMG is expected to fetch $2 billion or more in an auction, with first-round bids expected mid-month.

Learfield, based in Jefferson City, Mo., has marketing rights with more than 50 universities — including the powerful Southeastern Conference.

In the Northeast, Learfield has marketing deals with West Point, Penn State and the universities of New Hampshire and Maine.

The Post broke the news in June that Learfield was for sale.

After buying Learfield, Providence, which still owns a small piece of the YES regional sport network, is likely to pass on the IMG bidding, sources said.

A Providence spokesman declined to comment.

The sale of IMG, owned by PE giant Forstmann, Little, comes after the November 2011 death of the firm’s founder, Ted Forstmann.

Providence, which last spring teamed up with the NFL to scout sports- and media-related opportunities around the world, was one of several PE firms considered to be logical bidders for IMG bidders.

French company Lagardere is also seen as a possible buyer, a source with knowledge of the IMG sale process said.