By Denny Jacob

Comcast Corp. and Monumental Sports & Entertainment LLC said Tuesday that it entered into an agreement in which Monumental will acquire full ownership of NBC Sports Washington by buying NBCUniversal's 67% stake in the network.

Monumental currently owns 33% of NBC Sports Washington, the exclusive local television rightsholder for Washington Wizards and Washington Capitals games, which it acquired in 2016.

Financial terms of the acquisition weren't disclosed. As part of the acquisition, NBCUniversal will continue to assist in the operation of the network by providing corporate and shared services for up to 18 months, the companies said.

Comcast is the owner of Xfinity-branded broadband and cable services, the NBCUniversal media empire and the U.K.'s Sky TV business.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 23, 2022 11:38 ET (15:38 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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