Bruce Levenson is best known as one of the owners of the NBA’s Atlanta Hawks (along with the arena the team plays in, Philips Arena). However, he is much more than just this and he does other tasks throughout the day. In fact, he spends most of his time focusing in on the company he helped start back after he finished college. It is actually his work here that has allowed him to become the majority owner of the Atlanta Hawks and other large corporations.
In 1977, Bruce Levenson and his business associated Ed Peskowitz started a company known as United Communications Group. At this time, it proved difficult for investors to really obtain any sort of information on businesses and other investment sectors. Due to this, they often had to rely on tips and words of advice from stock brokers, who did not always provide the most desirable information. In order to keep potential investors up to speed, United Communications Group published a newsletter titled Oil Express, focusing in on all of the latest developments in the oil industry. This became a much read publication around the oil industry as it took insights from different sectors and compiled it all into one helpful publication. With this strategy (and the money it made from the Oil Express), United Communications Group eventually went on to purchase other newsletters that brought in investment information. With this information, it created a rather sizable database including Oil Price Information Service. All of this material allowed investors to use their services to find analysis on the sector, as well as other sectors around the country, like technology, telecommunications, the healthcare industry and the energy industry. All of this pumped money into the company and made him a multi billionaire.
With his money from the company, he was eventually able to go on and purchase the Atlanta Hawks from Turner Broadcasting out of Atlanta. This purchase also bundled together the Atlanta Thrashers, although Bruce Levenson and his investing group eventually sold the NHL team seven years later after the initial purchase. Instead, he decided to focus most of the time on the NBA team and he has even been inducted into being a member of the NBA Board of Governors.
While Bruce Levenson is looking at selling the Atlanta Hawks at the end of this current year, he is still continually progressing new and exciting business opportunities.