SBD/4/Sports Media

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  • GOLF CHANNEL ADDS TO ITS INAUGURAL CARRIAGE

         The Golf Channel has made a deal with Cablevision to add the
    cable operator's 1.3M subscribers to the network's viewership
    base.  The Golf Channel has already come to terms with Comcast,
    Continental Cablevision and Newhouse Broadcasting (COWLES
    BUSINESS MEDIA, 1/3).  The Golf Channel is scheduled to launch on
    January 17.
    

    Print | Tags: Cablevision, Comcast-Spectacor, Media
  • VIACOM MAY RECEIVE LARGE TAX BREAK IN CABLE DEAL

         As reported yesterday, Viacom Inc. plans to sell its cable
    TV systems for more than $2B to a minority-controlled enterprise.
    As part of the sale, Viacom would receive a federal tax break of
    as much as $400M.  Viacom is finalizing the details of the sale
    to a partnership headed by African-American exec Frank Washington
    in "what would be the largest-ever purchase of corporate assets
    by a minority."  Viacom would then qualify for the tax break
    under a program designed to expand ownership of broadcast outlets
    by minorities.  The program was actually "conceived" by
    Washington while an official in the Carter Administration.  Other
    partners in the deal are "several giant corporate investors,
    including TCI.  The program "permits companies to defer paying
    capital gains taxes for two years if they sell a media property
    to a black, Hispanic, Asian American or Native American buyer."
    Viacom is expected to announce the deal next week (Paul Farhi,
    WASHINGTON POST, 1/4).
    

    Print | Tags: Media, Viacom
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