Former Turner Sports President Harvey Schiller was
formally named Chair & CEO of YankeeNets yesterday, and
Richard Sandomir of the N.Y. TIMES writes that Schiller "has
been on the job for a month," working at the company's N.Y.
offices. Yesterday, Schiller talked about YankeeNets'
prospective purchase of the Devils, who he "refused to cite"
by name, but said acquiring an NHL team is "something we
want to accomplish as soon as possible." Schiller said that
buying a hockey team would be "crucial to moving the Nets
from the Meadowlands to a proposed arena in Newark" because
it would fill more dates. Sandomir writes that "barring an
unforeseen crisis," the YankeeNets' purchase of the Devils
should be finalized by the end of this month and close in
June. Schiller added that YankeeNets "is seeking a variety
of alternatives to selling the Yankees' cable TV rights to
the MSG Network," whose current 12-year, $486M deal with the
team is in its final year. He said that talks so far "have
focused on" reaching a new deal with Cablevision. Schiller:
"We ought to step away from a rights fee. It's in our
interest to work with a strategic partner to have ownership
in a network to maximize the true value of our team."
Schiller added that YankeeNets, which "has a broad mandate
to acquire sports and entertainment properties," is also
"discussing" a marketing partnership with the MLS MetroStars
(N.Y. TIMES, 2/16). Schiller: "We are going to explore
whatever opportunities are out there. This is the beginning
of a corporation that will look to become a major sports and
entertainment company" (WALL STREET JOURNAL, 2/16). The
HOLLYWOOD REPORTER's Michele Greppi writes that Schiller "is
opposed to nothing and open to anything that will boost
revenue" and "enhance the overall value and marketing" of
YankeeNets. Schiller hopes to "be able to come to some
general agreement in a couple of months" on a TV deal and
has targeted 2001 as the goal for "conversion" (HOLLYWOOD
REPORTER, 2/16). In N.Y., Richard Wilner writes that
Yankees Owner George Steinbrenner sees YankeeNets as
"spanning the globe as it acquires auto racing, boxing and
other sports and entertainment properties" (N.Y. POST,
2/16). Schiller added that YankeeNets had no "immediate"
plans for an IPO (AP, 2/16).
JUST WHAT THE DOCTOR ORDERED: In N.Y., Anna Robaton
reports that the Yankees "are shopping around a
multimillion-dollar sponsorship deal to city hospitals."
The team wants a hospital that "would agree to spend
millions on in-stadium, scorecard and related advertising in
exchange for being designated the official hospital of the
Yankees" (CRAIN'S N.Y. BUSINESS, 2/14 issue).
