Controversial Issues

Bruce Levenson And AHBE Settling Things With AIG After Sale

Bruce Levenson is an entrepreneur in journalism and publications and he founded a major media outlet in United Communications Group (UCG). He’s also a former NBA owner of the Atlanta Hawks which he recently sold after owning the majority of their shares for about 12 years. Levenson and the other owners at AHBE made a handsome profit in the sale, reports Forbes.com, but the days following it have seen them in a court battle against their former insurance company, AIG. AHBE had opted to terminate and buyout former General Manager Danny Ferry’s contract when the sale took place, and Ferry filed a claim with AIG that was supposed to cover the situation. But AIG has not issued any payments to Ferry and Levenson and AHBE are seeking relief for damages caused by this incident.

Levenson began his career in journalism working for the Washington Star shortly after graduating from Washington University. He had considered going into law, but he had already become an established journalist that he decided to build his own news company. He and Ed Peskowitz rented an apartment and started publishing newsletters beginning with “Oil Express” in 1977, and in time their publishing business grew into a major industry news organization. UCG publishes information on healthcare, energy, education and mortgage banking and they also are the founders of TechTarget and GasBuddy.

Levenson has emphasized giving back to the Washington D.C. community, http://www.prnewswire.com/news-releases/undergrads-and-graduate-students-mastering-philanthropy-300038081.html, and in effort to encourage others to do the same he and his wife Karen founded the Center for Philanthropy and Non-Profit Leadership at the University of Maryland. Levenson’s mother-in-law is a survivor of the Holocaust, and in her honor Levenson has given to the Holocaust Memorial Museum. He also took the Atlanta Hawks’ entire team and coaching staff there just a couple years ago and had his mother-in-law tell her personal story to them.

 

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