Bankruptcy Court Judge Allows Rockets To Continue Negotiating For CSN Houston
U.S. Bankruptcy Court Judge Marvin Isgur yesterday granted the Rockets permission to "continue negotiating on behalf of Comcast SportsNet Houston and set Feb. 4 to hear arguments on the Astros’ motion to dismiss an involuntary Chapter 11 bankruptcy petition filed against the network," according to David Barron of the HOUSTON CHRONICLE. Isgur also "provided a clearly worded signal indicating that if the Astros-Rockets-Comcast partnership enters bankruptcy, he favors eliminating a controversial clause that requires all three partners to agree on significant decisions." Isgur said, “The brilliant idea of giving everybody veto power … probably not working out too well." Yesterday's hearing "featured a report by Rockets CEO Tad Brown on his efforts to attract possible investors and additional carriage partners for the network." Brown said that the Rockets have "had talks" with Fox Sports, Time Warner Cable, DirecTV, AT&T, AEG and private equity companies, including KKR, Providence Equity Partners and Guggenheim Partners. Brown: “We have some significant momentum" (HOUSTON CHRONICLE, 1/8).