Comcast Sells NBC Sports activities Washington RSN to Wizards, Capitals Proprietor – Sportico.com

Comcast is promoting considered one of its regional sports activities networks.

The cable large has a deal to promote NBC Sports activities Washington to its minority associate within the RSN, Monumental Sports activities & Leisure, per The Hollywood Reporter.

Monumental presently owns 33 p.c of the RSN, and can purchase the remaining 67 p.c from Comcast. Monetary phrases weren’t disclosed, although the businesses say the deal is predicted to shut subsequent month.

NBC Sports activities Washington has the RSN rights to Washington Wizards NBA video games and Washington Capitals NHL video games, amongst others. Monumental, led by CEO Ted Leonsis, owns the Wizards and Capitals.

The RSN is accessible in D.C., Maryland and Virginia, in addition to components of Pennsylvania, West Virginia, and Delaware. NBC Sports activities will proceed to supply technical and operational assist for the RSN.

Comcast owns six different RSNs, although a supply mentioned that it’s not in talks to promote any of its different properties. Somewhat, the cope with Momumental was a singular one, owing to its current minority stake and position as a longtime rightsholder. In an announcement, NBC’s RSN president Invoice Bridgen known as the deal a “distinctive alternative.”

“We at Monumental Sports activities & Leisure are extremely excited to have reached an settlement to amass NBC Sports activities Washington, an necessary enterprise for our present and future core enterprise operations,” mentioned Zach Leonsis, president of media and new enterprises for Monumental. “Comcast NBCUniversal has constructed a powerful regional sports activities community in NBC Sports activities Washington. We look ahead to additional enhancing and innovating on the already best-in-class expertise that our fanbase enjoys of watching dwell sports activities, for years to come back.”

LionTree served as Monumental’s advisor on the deal.