Eddie Chiles Sells Controlling Interest in Texas Rangers for $50 Million
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Gaylord Broadcasting Co. will pay Eddie Chiles $50 million for his controlling interest in the Texas Rangers baseball team, the Fort Worth Star-Telegram reported Sunday.
The newspaper quoted sources as saying the money will be paid over a 10-year period, with Chiles getting $5 million up front and $375,000 a month for 10 years.
Chiles refused to disclose the sale price on Thursday, when he announced he was selling his two-thirds interest in the team.
Gaylord Broadcasting Co., headed by Edward Gaylord of Oklahoma City, owns KTVT, a Dallas station that televises Ranger games.
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