On July 9, 1999, Bryan Perez, vice president of business development for Southwest Sports Group (SSG), was facing a dilemma. The next day he was scheduled to meet with Mike Cramer, COO of SSG, and Tom Hicks, the controlling shareholder of SSG, to propose a course of action regarding the broadcasting rights for the Dallas Stars and Texas Rangers, the sports teams owned by SSG. For over a year, Bryan and his colleagues had been performing qualitative as well as valuation analyses to determine the best alternative. After all the months of hard work, he was still uncertain as to which route they should choose.
