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MSE To Buy NBCUniversal’s 67% Stake within the Regional Sports activities Community That Holds Unique Native Tv Rights for MSE’s Groups: the NHL’s Washington Capitals and NBA’s Washington Wizards
WASHINGTON, Aug. 23, 2022 /PRNewswire/ — Monumental Sports activities & Leisure (“MSE”) and Comcast Company as we speak introduced that they’ve entered into an settlement underneath which MSE will purchase 100% of the fairness pursuits in NBC Sports activities Washington by buying NBCUniversal’s 67% stake within the community. MSE at the moment owns 33% of NBC Sports activities Washington, which it acquired in 2016.
NBC Sports activities Washington is the unique native tv rightsholder for Washington Wizards and Washington Capitals video games. The community is obtainable all through the District of Columbia, Maryland and Virginia, in addition to elements of Pennsylvania, Delaware and West Virginia. Launched as House Crew Sports activities in April 1984, the community has served because the NHL’s Capitals and NBA’s Wizards regional TV companion for the reason that community’s inception.
“We at Monumental Sports activities & Leisure are extremely excited to have reached an settlement to amass NBC Sports activities Washington, an vital enterprise for our present and future core enterprise operations,” mentioned Zach Leonsis, President of Media & New Enterprises, Monumental Sports activities & Leisure. “Comcast NBCUniversal has constructed a robust regional sports activities community in NBC Sports activities Washington. We stay up for additional enhancing and innovating on the already best-in-class expertise that our fanbase enjoys of watching stay sports activities, for years to return.”
As a part of the transaction, NBCUniversal will proceed to help within the operation of the community by offering company and shared providers, together with distribution, technical assets and manufacturing amenities, for as much as 18 months. NBC Sports activities Regional Networks, a part of NBCUniversal Native, operates a portfolio of six regional sports activities networks.
“Monumental Sports activities & Leisure’s curiosity in full possession of the community is a singular alternative,” mentioned Invoice Bridgen, President, NBC Sports activities Regional Networks. “Their leaders have been engaged and collaborative companions in NBC Sports activities Washington who, like us, worth native sports activities media and are dedicated to serving followers now and investing sooner or later. We stay up for persevering with our work with them throughout the transition to assist the community’s continued progress and success.”
MSE’s platform encompasses 5 skilled sports activities groups: the NHL’s Washington Capitals, the NBA’s Washington Wizards, the WNBA’s Washington Mystics, the NBA G League’s Capital Metropolis Go-Go and the NBA 2K League’s Wizards District Gaming. As well as, MSE owns and operates Capital One Area and manages the MedStar Capitals Iceplex (follow facility for the Capitals), MedStar Well being Efficiency Heart (follow facility for the Wizards, Mystics and Go-Go), and EagleBank Area (stay efficiency venue on the campus of George Mason College in Virginia). Additional, MSE was a primary mover within the sports activities betting area, opening with Caesars Leisure the primary ever in-arena retail location in North America at Capital One Area in 2020. It additionally launched a first-of-its variety regional sports activities streaming service for native and highschool sports activities and unique Capitals, Wizards and Mystics content material with Monumental Sports activities Community in 2016. MSE’s broad media attain consists of the social media channels of its sports activities groups and company properties – not solely in English but additionally Japanese, Hebrew and Mandarin and coming quickly in Spanish and Arabic – in addition to native content material net articles, video productions and streaming reveals, radio broadcasts, podcasts, in-arena signage, and out-of-home video boards.
MSE’s acquisition of NBC Sports activities Washington is topic to regulatory approval and different customary situations. Monetary phrases of the acquisition weren’t disclosed.
LionTree served as Monumental’s unique monetary advisor on the transaction.
About Monumental Sports activities & Leisure
Monumental Sports activities & Leisure is America’s main sports activities and leisure household. Our individuals, gamers, groups and occasions carry pleasure and pleasure to hundreds of thousands. We make investments and innovate to constantly elevate the sport so we will ship extraordinary experiences that can encourage and unite our neighborhood, our followers and our individuals. To be taught extra, please go to www.monumentalsports.com.
About Comcast Company
Comcast Company (Nasdaq: CMCSA) is a worldwide media and expertise firm that connects individuals to moments that matter. We’re principally centered on connectivity, aggregation, and streaming with 57 million buyer relationships throughout the US and Europe. We ship broadband, wi-fi, and video via our Xfinity, Comcast Enterprise, and Sky manufacturers; create, distribute, and stream main leisure, sports activities, and information via Common Filmed Leisure Group, Common Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, a number of cable networks, Peacock, NBCUniversal Information Group, NBC Sports activities, Sky Information, and Sky Sports activities; and supply memorable experiences at Common Parks and Resorts in the US and Asia. Go to www.comcastcorporation.com for extra data.
SOURCE Monumental Sports activities & Leisure
