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DUBAI International Capital is working with former Yahoo and Warner boss Terry Semel on a bid for sports and entertainment agency IMG.
The two sides are still some way apart on the value of the group, which manages celebrities including Tiger Woods and Justin Timberlake.
People close to IMG said that it would take an offer in the region of $3 billion (£1.5 billion) to entice owner Teddy Forstmann to sell. However, industry sources said that $3 billion was a “very aggressive price”.
IMG Media owns the UK’s Tiger Aspect, which produced the Robin Hood drama series for the BBC.
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