Monumental Sports & Entertainment To Acquire All of DC-Based NBC Sports Washington

Monumental Sports & Entertainment To Acquire All of DC-Based NBC Sports Washington MSE has owned 67% of the regional sports network By Brandon Costa, Director of Digital

Tuesday, August 23, 2022 - 11:38 am

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Monumental Sports & Entertainment (MSE) and Comcast announced on Tuesday that it has struck a deal to acquire 100% of the equity interests in NBC Sports Washington, the regional sports network serving the Washington, DC, area.

MSE will acquire NBCUniversal's 67% stake in the network. It has owned the remaining 33% of NBC Sports Washington since 2016.

NBC Sports Washington is the exclusive local rightsholder for in-market games of the NBA's Washington Wizards and the NHL's Washington Capitals. The network broadcasts throughout the District of Columbia, Maryland, and Virginia and reaches portions of Pennsylvania, Delaware, and West Virginia.

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, media and new enterprises, Monumental Sports & Entertainment, in the official announcement. 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 in watching live sports for years to come.

According to the official release, NBCUniversal will continue to assist in network operation via corporate and shared services - distribution, technical resources, production facilities - for up to 18 months.

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.

Since launching as Home Team Sports in 1984, NBC Sports Washington has served as regional TV partner of the Capitals and Wizards.

A part of NBCUniversal Local, NBC Sports Regional Networks operates a portfolio of six RSNs.

MSE owns three professional sports teams besides the Capitals and the Wizards: the WNBA's Washington Mystics, the NBA G League's Capital City Go-Go, and the NBA 2K League's Wizards District Gaming. The company also owns and operates Capital One Arena in Washington, DC's Penn Quarter neighborhood.

MSE's acquisition of NBC Sports Washington is subject to regulatory approval and other customary conditions. Financial terms were not disclosed.

LINK:	https://www.sportsvideo.org/2022/08/23/monumental-sports-entertainment...
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