Comcast Buys Cablevision’s Interests in Regional Sports Networks

Rainbow Media Holdings’ 60% of FSN Bay Area, 50% of FSN New England in Deal
By R. Thomas Umstead -- Multichannel News, 4/30/2007 3:06:00 PM
Comcast Monday expanded its regional-sports-network portfolio by purchasing Cablevision Systems’ interests in FSN Bay Area and FSN New England.

The deal, valued at $570 million, leaves Cablevision with only New York-based RSNs Madison Square Garden Network and FSN New York.

Comcast will purchase Cablevision subsidiary Rainbow Media Holdings’ 60% interest in 4.62 million-subscriber FSN Bay Area -- News Corp’s Fox Sports owns the other 40% -- and 50% stake in 4.63 million-subscriber FSN New England, giving Comcast full control of the service.

FSN Bay Area airs live games from Major League Baseball’s San Francisco Giants and Oakland Athletics; the National Basketball Association’s Golden State Warriors; and the National Hockey League’s San Jose Sharks. FSN New England telecasts Boston Celtics NBA games.

The two RSNs join Comcast SportsNet Philadelphia, Comcast SportsNet Chicago, Comcast SportsNet Mid-Atlantic, Comcast SportsNet West, SportsNet New York, The Mtn. – MountainWest Sports Network, CSS and Comcast Local Detroit under the Comcast sports umbrella.

“FSN Bay Area and New England are excellent operating businesses and fit strategically into Comcast’s portfolio of sports networks. By growing RSNs in markets where Comcast has existing operations, we have a unique opportunity to reinforce our brand image and capitalize on our local presence,” said Jeff Shell, president of Comcast Programming Group.

Rainbow CEO Josh Sapan added: “We have been honored to have operated FSN New England and FSN Bay Area since their inception and are confident that Comcast will only build on our record of excellence for sports viewers in these two important markets.”


http://www.multichannel.com/article/CA6437971.html

hmm, Cablevision selling off assets. Could Rainbow Media and VOOM programming be next ? Could they be setting themselves up for a takeover by Time Warner ?

This story was posted 21 hours earlier in the Hot Off The Press sticky.

http://www.avsforum.com/avs-vb/showthread.php?p=10428880&&#post10428880

hmm, Cablevision selling off assets. Could Rainbow Media and VOOM programming be next ? Could they be setting themselves up for a takeover by Time Warner ?

I sure hope all of that happens.
If their stakes in two RSN's are worth 570 million, one can only wonder what their other properties are worth. As well as Cablevisions cable system.

How long before FSN New England becomes Comcast SportsNet New England?

hmm, Cablevision selling off assets. Could Rainbow Media and VOOM programming be next ? Could they be setting themselves up for a takeover by Time Warner ?

No, they are setting themselves up to go private. Then they'll sell to TWC a couple of years after that.

Maybe they'll merge the barren Comcast Sports West whose only redeeming quality is the Sacramento Kings with the FSN Bay Area RSN?

No, they are setting themselves up to go private. Then they'll sell to TWC a couple of years after that.

Like I said.

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http://www.avsforum.com/avs-vb/show...&&#post10440996


The Business of Television
Dolans Near Deal for Cablevision
By Andrew Ross Sorkin The New York Times May 1, 2007

Cablevision Systems Corporation is near a deal to sell the company to its founding family, the Dolans, for about $10.5 billion in cash, according to people involved in the discussions.

The board of Cablevision is currently meeting to finalize the deal, these people said. They warned, however, that it remained possible the deal could collapse or be postponed. If a deal is struck, an announcement could come within the next several hours, these people said.

The deal, worth about $36 a share, would come after three earlier failed efforts by the Dolan family to buy out the public shareholders of Cablevision, which includes Madison Square Garden, Radio City Music Hall, the New York Knicks and the New York Rangers.

The Dolans, a colorful dynasty based in Bethpage, N.Y., had made an offer to break the company in two and buy Cablevision's cable television assets in 2005. But they were forced to withdraw the offer before the board formally rejected it. The family, led by the founder, Charles F. Dolan, and his son James, then offered to buy the company for $27 a share last year and later sweetened the offer to $30 a share. That bid was formally rejected by the board after a bitter public battle.

The latest buyout, if it goes through, will be an agreed deal.

http://www.nytimes.com/2007/05/01/b...agewanted=print

Maybe they'll merge the barren Comcast Sports West whose only redeeming quality is the Sacramento Kings with the FSN Bay Area RSN?

If they get full control of FSN BA, I can see that happening, but with just partial ownership, maybe there will be a shift of one MLB and the NHL to Comcast SportsNet West