WASHINGTON, Sept. 20,
2022 /PRNewswire/ -- Monumental Sports &
Entertainment (MSE) today announced the closing of its previously
announced acquisition of NBCUniversal's 67% stake in NBC Sports
Washington from Comcast Corporation. MSE, which acquired 33% of NBC
Sports Washington in 2016, now has full ownership of the regional
sports network.
MSE, which acquired 33% of NBC Sports
Washington in 2016, now has full ownership of the regional sports
network.
NBC Sports Washington is the exclusive local TV 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 Capitals' and Wizards' regional TV
partner since its inception.
Zach Leonsis, President of Media & New Enterprises at MSE,
commented, "We are incredibly pleased to announce that we have
officially closed on our transaction to acquire NBC Sports
Washington. We look forward to welcoming all of our new teammates
into the Monumental family, embarking on some exciting work to
integrate the network into our platform, and building a
best-in-class experience for our fans."
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.
NBC Sports Washington is expected to retain its current name and
branding through the 2022-23 season. A network re-brand is
anticipated for the 2023-24 Capitals and Wizards seasons.
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.
LionTree served as MSE's exclusive financial advisor on the
transaction. Financial terms of the acquisition were not
disclosed.
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