SBD/Issue 165/Sports Media

MLB May Retain MASN Equity Stake Once Nationals Are Sold

MLB May Hold Onto Its
Minority Stake In MASN
MLB is “considering retaining its minority stake” in MASN if prospective owners of the Nationals “do not place a sufficient value on the asset,” according to Eric Fisher of the WASHINGTON TIMES. MLB has asked for two separate bids by the end of the month for the team –- “one just for the team and another for the club plus the equity stake in MASN.” MLB’s 10% stake in network will rise to 33% over the next 30 years. MLB paid the Orioles $75M for the equity stake in MASN. MLB President & COO Bob DuPuy said, “We could end up keeping the stake. We’ll need to see what happens. The real idea is to get the clearest possible idea of how this is being perceived (by potential buyers) and then go from there.” MLB officials have said that the network “would be significantly accretive to the value of the Nationals,” but several bidders have “disagreed with that assessment, making the two-bid request a key litmus test on what MASN is worth” (WASHINGTON TIMES, 5/19).

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