SBD/9/Sports Media

NBC TO SELL OFF INTEREST IN SPORTS CHANNEL

     Cablevision's investment in Madison Square Garden "triggered
a clause that allows NBC to relinquish" its 50% stake in the
Sports Channel and another jointly owned cable program, News 12
Long Island.  And according to Cablevision Senior VP of Finance
Barry O'Leary, NBC may sell its stake to its partner, Cablevision
Systems Inc. for $92M.  But O'Leary did say he was not sure
whether NBC "plans to go ahead with the sale."  NBC has until 30
days after the close of the Garden sale, expected at the end of
the year, to make a decision (BLOOMBERG BUSINESS NEWS/N.Y. POST,
12/9).
Return to top
Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug