Monumental Sports & Entertainment Set To Acquire NBC Sports Washington
variety.comBrian Steinberg Senior TV Editor NBCUniversal is getting out of the Washington sports business. Comcast, parent of NBCU, agreed to sell its 67% stake in NBC Sports Washington to Monumental Sports & Entertainment, which currently owns the remaining 33% of the entity.
MSE acquired the stake in 2016. Financial terms of the current deal were not disclosed. NBC Sports Washington holds exclusive rights for Washington Wizards and Washington Capitals games, and is distributed throughout the District of Columbia, Maryland and Virginia, as well as parts of Pennsylvania, Delaware and West Virginia.
The regional sports outlet launched as Home Team Sports in April of 1984. “We at Monumental Sports & Entertainment are incredibly excited to have reached an agreement to acquire NBC Sports Washington, an important business for our current and future core business operations,” said Zach Leonsis, president of media and new enterprises for Monumental Sports & Entertainment, in a statement. “Comcast NBCUniversal has built a strong regional sports network in NBC Sports Washington.
We look forward to further enhancing and innovating on the already best-in-class experience that our fanbase enjoys of watching live sports, for years to come.” The sale undergirds the challenges being faced by owners of regional sports networks, which command some of the highest prices per subscriber on cable and satellite systems.
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