Ascent Entertainment Group, owner of the Nuggets and
Avalanche, is "selling all but a small stake" in its Beacon
Communications Group movie studio, according to Bob
Diddlebock of the DENVER POST. The sale of Beacon to an
investment group headed by Beacon Chair & CEO Armyan
Bernstein "follows months of speculation" that Ascent is
moving toward consolidating its operations in order to
"focus more closely on its cable-TV and local pro sports
holdings." The film "Air Force One" has been Beacon's one
box-office hit. Paul Kagen Associates' John Mansell said
that "it makes sense for Ascent to keep the teams or, at the
most, sell minority stakes to outsiders." He cited possible
scenarios that include: selling stakes in the sports
properties to a DBS company like EchoStar; bringing in US
West, which signed a TV deal with the Suns and "has plans to
move into Denver"; or swap a stake in the Nuggets, Avalanche
and Pepsi Center with the Rockies Owner Jerry McMorris or
Broncos Owner Pat Bowlen. Ascent CEO Charlie Lyons has said
that the teams "aren't for sale" (DENVER POST, 1/21).
