Mariners Acquire A Controlling Interest In Root Sports RSN
DirecTV and the Mariners renewed their local media deal, giving the MLB team a majority stake in Root Sports' Seattle-based RSN. DirecTV will hold a minority stake and oversee day-to-day operations of the channel. The Mariners were in the middle of a long-term deal with DirecTV-owned Root Sports, but the team had an opt-out clause that it could exercise after the '15 season. Comcast, which operates CSN Northwest out of Portland, was known to be interested in those rights. The new agreement will run through '30.
The RSN will be in position to pick up rights to the NBA's Kings, should that team complete its move from Sacramento to Seattle. Allen & Company, led by Steve Greenberg, advised the Mariners. In a prepared statement, Allen said, "MLB clubs that own a substantial stake in their own RSN's tend to be among the strongest and most stable franchises in the league."