owner

Financial terms of the deal between Penske and Gerald R. Forsythe, the long-time owner of the event, were not disclosed.

“I never call me a hands-off owner,” he said.

Currently, the owner of Sanchez’s apartment complex is using one of the city’s building incentive programs that allows developers to build more than they usually can if they include at least some income-restricted affordable units in the new project.

The grandson of Hollywood mogul Lew Wasserman and owner of a prestigious talent agency, he is seen as critical to wooing benefactors and corporate sponsors.

Its owner Hilco had been looking to sell the struggling retailer, but has not managed to find an outright buyer.