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NBC SELLS OFF ITS SHARE OF SPORTSCHANNEL NEW YORK
Published April 26, 1995
NBC has sold its half-ownership in SportsChannel New York to their partner Rainbow Programming Holdings. The network sold its share for approximately $93M, according to Rich Brown of BROADCASTING & CABLE. NBC and Rainbow will continue to partner in such programming ventures as NewSport, Prime SportsChannel Network, and other regional sports channels. NBC Cable and Business Development Exec VP Tom Rogers said that "owning a piece of SportsChannel New York made less sense" to NBC following Cablevision's purchase with ITT of SportsChannel's competing regional sports service, Madison Square Garden Network. NBC had "passed" on earlier opportunities to join Cablevision and ITT in the MSG purchase. Rogers: "We already have a huge news and sports presence in the New York market" (Rich Brown, BROADCASTING & CABLE, 4/24 issue).