MSE To Purchase NBCUniversal's 67% Stake in
the Regional Sports Network That Holds Exclusive Local Television
Rights for MSE's Teams: the NHL's Washington Capitals and NBA's
Washington Wizards
WASHINGTON, Aug. 23,
2022 /PRNewswire/ -- Monumental Sports &
Entertainment ("MSE") and Comcast Corporation today announced that
they have entered into an agreement under which MSE
will acquire 100% of the equity interests in NBC Sports
Washington by acquiring NBCUniversal's 67% stake in the
network. MSE currently owns 33% of NBC Sports Washington, which it
acquired in 2016.
NBC Sports Washington is the exclusive local television
rightsholder for Washington Wizards and Washington Capitals games.
The network is available throughout the District of Columbia, Maryland and Virginia, as well as parts of Pennsylvania, Delaware
and West Virginia. Launched as Home
Team Sports in April 1984, the
network has served as the NHL's Capitals and NBA's Wizards regional
TV partner since the network's inception.
"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 &
New Enterprises, Monumental Sports & Entertainment. "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."
As part of the transaction, NBCUniversal will continue to assist
in the operation of the network by providing corporate and shared
services, including distribution, technical resources and
production facilities, for up to 18 months. NBC Sports Regional
Networks, part of NBCUniversal Local, operates a portfolio of six
regional sports networks.
"Monumental Sports & Entertainment's interest in full
ownership of the network is a unique opportunity," said
Bill Bridgen, President, NBC Sports
Regional Networks. "Their leaders have been engaged and
collaborative partners in NBC Sports Washington who, like us, value
local sports media and are committed to serving fans now and
investing in the future. We look forward to continuing our work
with them during the transition to support the network's continued
growth and success."
MSE's platform encompasses five professional sports teams: the
NHL's Washington Capitals, the NBA's Washington Wizards, the WNBA's
Washington Mystics, the NBA G League's Capital City Go-Go and the
NBA 2K League's Wizards District
Gaming. In addition, MSE owns and operates Capital One Arena and
manages the MedStar Capitals Iceplex (practice facility for the
Capitals), MedStar Health Performance Center (practice facility for
the Wizards, Mystics and Go-Go), and EagleBank Arena (live
performance venue on the campus of George
Mason University in Virginia). Further, MSE was a first mover in
the sports betting space, opening with Caesars Entertainment the
first ever in-arena retail location in North America at Capital One Arena in 2020. It
also launched a first-of-its kind regional sports streaming service
for local and high school sports and exclusive Capitals, Wizards
and Mystics content with Monumental Sports Network in 2016. MSE's
broad media reach includes the social media channels of its sports
teams and corporate properties – not only in English but also
Japanese, Hebrew and Mandarin and coming soon in Spanish and Arabic
– as well as native content web articles, video productions and
streaming shows, radio broadcasts, podcasts, in-arena signage, and
out-of-home video boards.
MSE's acquisition of NBC Sports Washington is subject to
regulatory approval and other customary conditions. Financial terms
of the acquisition were not disclosed.
LionTree served as Monumental's exclusive
financial advisor on the transaction.
About Monumental Sports &
Entertainment
Monumental Sports & Entertainment is America's leading
sports and entertainment family. Our people, players, teams and
events bring excitement and joy to millions. We invest and innovate
to consistently raise the game so we can deliver extraordinary
experiences that will inspire and unite our community, our fans and
our people. To learn more, please
visit www.monumentalsports.com.
About Comcast
Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and
technology company that connects people to moments that matter. We
are principally focused on connectivity, aggregation, and streaming
with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and
video through our Xfinity, Comcast Business, and Sky brands;
create, distribute, and stream leading entertainment, sports, and
news through Universal Filmed Entertainment Group, Universal Studio
Group, Sky Studios, the NBC and Telemundo broadcast networks,
multiple cable networks, Peacock, NBCUniversal News Group, NBC
Sports, Sky News, and Sky Sports; and provide memorable experiences
at Universal Parks and Resorts in the
United States and Asia.
Visit www.comcastcorporation.com for more
information.
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SOURCE Monumental Sports & Entertainment