SportsBusiness Daily — Sports Business Resources — your sports business news and information source. Learn More

Thursday
April 23, 2009
Print This Issue

ESPN Could Lose Millions If State Tax Exemptions Are Repealed

ESPN "could lose millions of dollars each year" if Connecticut tax exemptions are "repealed and the state imposes a tax surcharge on corporations and limits tax credits," according to Amanda Falcone of the Meriden RECORD-JOURNAL. ESPN's "greatest worry is that Connecticut could decide to repeal tax exemptions on broadcast equipment." ESPN VP/Communications Mike Soltys said that the company "needs to keep its equipment current and taxing the equipment will make that more difficult." Soltys also said that the company is "worried about the future of other tax exemptions, including the exemption on media payroll services and the exemption on non-cable services." Soltys indicated that the company "would lose millions of dollars if some of the proposals are enacted, [but] he would not compare what ESPN would lose" to Disney's overall budget. Soltys said that he is "confident that ESPN would not abandon its birthplace in Bristol," but he added that the "budget decisions state lawmakers make this legislative session could affect the company's future." Soltys: "We would prefer to grow in Central Connecticut." But Soltys added that if lawmakers "make it harder to do business in Connecticut," ESPN "might choose to explore other options." ESPN "owns property and has studios and offices in several states" (Meriden RECORD-JOURNAL, 4/19).

Print This Article

Get A Free Trial To SportsBusiness Daily

Reader Comments

To post comments on this article, log in or register for a free trial.

Related Stories By Company

Related Stories By Sport

Gruden Committed To Improving On "MNF"
November 20, 2009 : SportsBusiness Daily

NBC, Fox See Ratings Gains For NFL Week 10
November 19, 2009 : SportsBusiness Daily

Ohlmeyer Addresses Steve Phillips Story
November 19, 2009 : SportsBusiness Daily

St. Peter's, Monmouth Benefit From ESPN
November 18, 2009 : SportsBusiness Daily

MSG Counting Down College BBall Moments
November 18, 2009 : SportsBusiness Daily

ALSO IN THIS SECTION

Go To Leagues & Governing Bodies

A Publication of Street & Smith's Sports Group.
Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (REVISED 2009-06-23) and Privacy Policy (REVISED 2009-06-23).

© 2009 Street & Smith's Sports Group and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Street & Smith's Sports Group.