Teams would take ownership of regional sports network from Warner Bros. Discovery, which...
The Astros and Rockets are negotiating to take over AT&T SportsNet Southwest as regional sports networks face financial problems.A decade after losing millions of dollars from the collapse of Comcast SportsNet Houston, the Astros and Rockets are negotiating to get back into the regional sports network business as owners of AT&T SportsNet Southwest.
Officials with the Astros, Rockets and Warner Bros. Discovery declined comment on the nature and progress of the negotiations. Houston, however, is expected to emerge from the RSN shuffle with local team ownership — a stunning contrast from developments in 2013-14, when the Astros and Rockets lost control of CSN Houston in a bankruptcy court dispute with Comcast. Each team lost more than $100 million in unpaid rights fees plus hundreds of millions of dollars in equity with the collapse of CSN Houston.
The Houston channel, which will get a new name once the Astros and Rockets take ownership, will join team-owned RSNs in several markets, among them New York, Seattle and Boston, that thus far have avoided the worst of the financial woes enveloping Bally Sports and AT&T SportsNet. AT&T SportsNet Southwest is available to be acquired because WBD is seeking to reduce debt and pare down expenses, focusing on such national channels as HBO, HGTV, Discovery Channel, CNN, TBS and TNT, and regional sports do not fit with that business plan.
However, with fewer subscribers to traditional pay TV services, RSN proceeds aren’t enough to pay rights fees and pare down debt.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Astros pitching prospect Colton Gordon to start for Israel in WBCFor a Jewish kid who grew up in Florida and who had a baseball-themed Bar Mitzvah party,...
Read more »
Why Forrest Whitley's latest option to minors is differentForrest Whitley is going into his last season with minor league options so move and his performance are critical.
Read more »
Why Rockets are still struggling to get Alperen Sengun ballHouston's loss to Chicago was another example. Boston, which plays here on Monday, shut...
Read more »
Red tide hits Florida’s southwest coast, killing fish, leaving residents gaspingFlorida-bound spring breakers searching for pristine beaches and clear blue seas might be in for a rude awakening after a toxic red tide struck the state’s southwest coast this week.
Read more »
Trump’s Song With Jan. 6 Prison Choir Rockets to Top of iTunes ChartThe musical collaboration between former President Donald Trump and the so-called J6 Prison Choir, reached the coveted No. 1 spot on the iTunes song chart on Saturday.
Read more »