WASHINGTON, D.C.—Monumental Sports & Entertainment (MSE) and Comcast Corporation have entered into an agreement for MSE to acquire NBCUniversal’s 67% stake in NBC Sports Washington.
MSE currently owns 33% of NBC Sports Washington, which it acquired in 2016. When the deal is completed, it will have full ownership of the regional sports network that is the exclusive local television rightsholder for Washington Wizards and Washington Capitals games.
MSE owns the Wizards and Capitals.
Currently, 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, MSE. “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.”
George Winslow is the senior content producer for TV Tech. He has written about the television, media and technology industries for nearly 30 years for such publications as Broadcasting & Cable, Multichannel News and TV Tech. Over the years, he has edited a number of magazines, including Multichannel News International and World Screen, and moderated panels at such major industry events as NAB and MIP TV. He has published two books and dozens of encyclopedia articles on such subjects as the media, New York City history and economics.
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