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Comcast Set To Purchase Remaining Portion Of Flyers From Late Ed Snider's Estate

Comcast is "buying the portion" of the Flyers and other Comcast Spectacor properties owned by late Chair Ed Snider's estate, according to a front-page piece by Sam Carchidi of the PHILADELPHIA INQUIRER. The company "declined releasing the financial terms it will pay" for the estate's 24% share. The deal is "expected to be finalized next month," at which time Comcast will own 100% of the company, including the Flyers, four Skate Zone arenas, Wells Fargo Center and Spectra businesses. The sale of the Flyers is "subject to approval" of the NHL, which is expected to consider the matter at its BOG meeting Friday in N.Y. Comcast Spectacor President & CEO Dave Scott will attend the meeting and said that he is "confident" things will go smoothly. Comcast officials said that the sale "would not affect" Flyers and Wells Fargo Center personnel. Comcast Chair & CEO Brian Roberts said Scott would "rely on the experts" in the Flyers' front office. Roberts: "We're very confident this will work well. This is what Ed wanted. That's the most important message. He wanted us to own 100 percent, and he wanted a smooth transition." A source said that "some of the money from the sale of Snider's estate will support" the Ed Snider Youth Hockey Foundation. The foundation "provides youngsters from urban neighborhoods in Philadelphia and Camden with the opportunity to learn and play hockey" (PHILADELPHIA INQUIRER, 9/23).

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