Bankruptcy Judge Gives Attorneys Green Light To Reorganize CSN Houston
U.S. Bankruptcy Court Judge Marvin Isgur yesterday refused to delay proceedings in the Comcast SportsNet Houston case, "clearing the way for attorneys to proceed with efforts to reorganize the bankrupt regional sports network while the Astros try to get the Chapter 11 order overturned," according to David Barron of the HOUSTON CHRONICLE. Isgur said that he "did not believe the Astros would succeed in their appeal and that it is in the public interest for CSN Houston, which airs Rockets and Astros games, to have a chance at reorganization." Isgur: "Putting a stay in place means that we are going to keep these programs off TV longer, and I think the community that I live in wants to have to have them on TV faster. That’s what everybody has told me.” Comcast has been "unable to arrange carriage deals for the network, resulting in limited viewership and limited revenue and the network’s inability to pay tens of millions in rights fees owed the Astros and Rockets." The Astros have appealed Isgur’s order granting Chapter 11 status to U.S. District Court Judge Lynn Hughes. The team also asked Isgur to "delay implementation of any effort to reorganize the network." Isgur said, “There is no shot of this on appeal. … The appeal has no merit in its likelihood of success" (HOUSTON CHRONICLE, 2/12).