NBA Kings Buy Controlling Interest In D-League Affiliate Sources: Mark Davis To File Vegas Papers In January Raiders' Davis Earns Respect Of Other Owners Bon Jovi Dispels Rumors He Wants To Buy Titans Senators Struggling With Early Season Attendance Barclays Center Using VR To Sell Islanders Tickets Franchise Notes Oakland Doesn't Need To Match Raiders Stadium Offer Owners' Opinions On Raiders' Vegas Plan Vary Devils Unveil One Jersey Marketing Campaign
DENVER'S ASCENT SHOWS STEEP 1ST QUARTER LOSSES
Published April 22, 1996
The Ascent Entertainment Group, owners of the Nuggets and Avalanche, reported a net loss of $4.3M for the first quarter, a 23% increase over the $3.5M first quarter loss of a year ago. Emily Narvaes of the DENVER POST reports that Ascent officials feel the teams will not show a profit until the company builds the $150M Pepsi Center planned for downtown (DENVER POST, 4/21). Ascent said most of the shortfall was due to the operating losses of the Avalanche and its TV and film production company, Beacon Communications. Ascent also acquired pay-per-view company SpectraVision, which is operating under Chapter 11 bankruptcy protection ("Sports View," CNBC, 4/19). ANOTHER CORPORATE REPORT: Tribune Co., owner of the Cubs, announced its first quarter profits rose to $29M from $28.7M. Revenues increased 6% to nearly $187M from $176.4M in the year- earlier period due to TV stations in New York, Chicago and Denver and the first-quarter acquisition of KHTV-TV in Houston (CHICAGO TRIBUNE, 4/20).