The newly merged YankeeNets will be on "a collision
course with Cablevision -- a showdown that could forever
change sports television in the metropolitan area,"
according to George Jordan of the Newark STAR-LEDGER.
Several sources said that YankeeNets will "concentrate on
the most lucrative way to deliver its games to viewers, even
if that means creating a new" RSN. The merger is expected
to be announced on Friday (Newark STAR-LEDGER, 9/22). In
N.Y., Richard Wilner cites industry sources as saying that
Yankees Owner George Steinbrenner is "on his way to become
one of the most powerful figures in sports." In addition to
a possible IPO, Steinbrenner is eyeing a bid for the Jets
and "some other entertainment assets as the cornerstone of"
an RSN. Wilner writes that Steinbrenner's moves could also
set him up "as a major rival" to Cablevision's Charles
Dolan. The Bonham Group President Dean Bonham: "If
YankeeNets follows through on all their plans it could be
the first sports stock offering that makes sense for
investors" (N.Y. POST, 9/22). CNNfn's Lauren Thierry
reported that Steinbrenner is "talking with" Time Warner and
ESPN about an RSN deal (CNNfn, 9/21). In N.Y., Charles
Bagli reports that the deal could result in a "financial
windfall" for Steinbrenner. One partner in the deal put the
Devils as a possible acquisition (N.Y. TIMES, 9/22).
OPEN BOOK CASE A CONCERN? USA TODAY's Michael Hiestand
reports that "there's a downside" to an IPO for the teams:
"Having to open their books" (USA TODAY, 9/22).
