The CEO of Tennis Channel said last week there are no active talks to sell the company, despite reports in September that Sinclair Broadcasting was in negotiations to buy the 12-year-old cable channel.
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SOLOMON
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“Let’s be clear: We are not talking to the market in terms of active sales with anyone,” said Ken Solomon about the network, which is available in about 35 million homes. “We are constantly talking about smart ways to grow the business. There is a real difference. We are not out in a process to sell the company.
“That is very different [from] sitting down with anybody and saying, ‘Here is what we have got. What do you have?’” he added. “Are there things that make sense: Partnership, content partnerships, investments, out-and-out purchase?”
Private equity firms, including Bain Capital and Apollo Global Management, own Tennis Channel. That private equity ownership has naturally led to sale speculation over the years, and Tennis Channel has engaged in talks with a wide range of entities, not just Sinclair.
“We talk to a lot of people,” Solomon said. “There were stories written about Al Jazeera, there were stories written about Peter Chernin, I think someone wrote a story about Fox. I wouldn’t deny we had conversations with any of them. We are an independent [channel], constantly looking at what our options are.”
