Sinclair Broadcast purchases Comcast foe Tennis Channel
Sinclair Broadcast Group Inc. acquired the 24-hour Tennis Channel - which has had a long-running legal feud with Comcast Corp. - for $350 million. Sinclair also will realize tax benefits related to the Tennis Channel's $200 million in net operating losses.
Sinclair Broadcast Group Inc. acquired the 24-hour Tennis Channel - which has had a long-running legal feud with Comcast Corp. - for $350 million. Sinclair also will realize tax benefits related to the Tennis Channel's $200 million in net operating losses.
Sinclair executive vice president Barry Faber said Wednesday that the Tennis Channel will boost its distribution through pay-TV operators to 50 million homes, from 30 million homes, over the next year. Sinclair owns, operates or provides services to 171 local TV stations and has said it would diversify into cable channels.
Faber said he was "extremely hopeful and somewhat confident" that Sinclair and Comcast could resolve Tennis Channel issues without litigation.
The Tennis Channel has said that Comcast, the nation's largest cable operator, has refused to pipe the independent network into more homes, hurting growth and helping Comcast-owned sports channels.
215-854-5897
@bobfernandez1