Comcast Completes Acquisition of Home Team Sports
Comcast Corporation today announced that it has completed its acquisition of Home Team Sports (HTS), the regional sports programming network serving the Baltimore/Washington, D.C. metropolitan areas, from Viacom Inc. and FOX Sports Net.
With this acquisition, Comcast expands its interests in regional sports programming. The company launched Comcast SportsNet, the regional sports network serving the Philadelphia metropolitan area, in October 1997.
Home Team Sports, based in Bethesda, Md., serves more than 4.8 million households in the mid-Atlantic region. Each year the network presents more than 1,000 sporting events of regional and national interest including the Baltimore Orioles (MLB), the Washington Wizards (NBA), the Washington Capitals (NHL), the Washington Mystics (WNBA), D.C. United (MLS), and the Carolina Hurricanes (NHL) games plus more than 600 collegiate events, featuring Atlantic Coast Conference men's basketball and various ACC championships along with many Colonial Athletic Association championships. HTS is affiliated with FOX Sports Net and features two hours of FSN's National Sports Report nightly along with other FSN programming such as The Last Word, The Keith Olbermann Evening News, NASCAR auto racing, PGA Tour golf and English Premier League soccer.
"We see sports programming as a valuable area for branding and growth, and believe in the role of regional sports networks. Our success in Philadelphia with Comcast SportsNet is an example of this," said Stephen B. Burke, President of Comcast Cable Communications. "This gives us a great opportunity to further extend the Comcast brand in the Baltimore/Washington D.C. corridor, and to build on the great work that HTS has been able to deliver to the sports fans in this market."
Comcast announced plans to purchase HTS last July. Terms of the transaction were not disclosed.
About Comcast Corporation
Comcast Corporation (www.comcast.com) is principally involved in the development, management and operation of broadband cable networks, and in the provision of electronic commerce and programming content. Comcast Cable is the third largest cable company in the United States and, incorporating pending cable transactions, will serve more than 8.4 million subscribers. Comcast's commerce and content businesses include majority ownership of QVC, Comcast-Spectacor, Comcast SportsNet, and The Golf Channel, a controlling interest in E! Entertainment Television, and other programming investments. Comcast's Class A Special and Class A Common Stock are traded on The Nasdaq Stock Market under the symbols CMCSK and CMCSA, respectively.