PGA, Euro take step toward unified sched
The PGA Tour has acquired a minority stake in the European Tour's media production company as part of an alliance announced Friday, a big first step toward developing a more unified golf schedule around the world.
The deal effectively makes the two leading tours more partners than rivals. The tours said in a statement the alliance would allow them to collaborate on commercial opportunities and global media rights in certain territories.
"The PGA Tour moves from a competitor to a partner," Keith Pelley, chief executive for the European Tour, said on a conference call.
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