Is this the beginning of the end for Cablevision? Sell off pieces and use the money to make a more attractive offer to go private. Will the Rainbow Networks be next? Charles Dolan may not want to stay in the cable game much longer and it is no secret that Jimmy prefers the Knicks and may be longing to own the Yankees. The one thing is sure; with the Dolans, you never know what they will do next.
Comcast to Acquire Cablevision's Stake in Sports Nets
Anthony Crupi
APRIL 30, 2007 -
Comcast has agreed to acquire Cablevision’s stake in two regional sports networks for $570 million in cash.
Under the terms of the deal, which was announced by both parties Monday morning, Comcast will snap up Cablevision’s 60 percent interest in Fox Sports Net Bay Area and its 50 percent interest in Fox Sports Net New England. The latter transaction gives Comcast full control over FSN New England; the remaining 40 percent stake in the Bay Area RSN will continue to be held by a News Corp. affiliate.
Once the sale of the RSN assets is finalized, Cablevision will no longer have a stake in any sports properties outside of the New York DMA.
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clipped from www.mediaweek.com
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