Comcast consents to offer bulk stake in NBC Sports Washington

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Comcast agrees to sell majority stake in NBC Sports Washington

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Alex Ovechkin # 8 of the Washington Capitals races up the ice with the puck throughout a video game versus the Toronto Maple Leafs at Capital One Arena on April 24, 2022 in Washington, D.C.

John Mccreary|National Hockey League|Getty Images

Comcast has actually accepted offer its bulk ownership stake in NBC Sports Washington, the local sports network that airs regional Washington, D.C., NBA and NHL video games, to Monumental Sports & & Entertainment.

Monumental, which purchases sports groups and services, has actually owned a 33% stake in the network because2016 Following the close of the offer, of which terms weren’t revealed, it will take ownership of Comcast’s 67% position.

NBC Sports Washington has actually aired the NBA’s Wizards and NHL’s Capitals because 1984, when the network was released. The channel is readily available throughout D.C., Maryland and Virginia, along with parts of Pennsylvania, Delaware and West Virginia.

As part of the offer, Comcast’s NBCUniversal stated it will continue to help in running the network for as much as 18 months.

The relocation comes as regional sports channels have actually been under pressure as customers continue to drop their memberships to cable television and satellite television bundles. The media business behind these networks have actually been finding out a feasible organization that uses a streaming alternative.

In June, the New England Sports Network, the regional channel that airs Boston’s Red Sox and Bruins video games, released a stand-alone streaming membership, which charges $2999 a month.

Sinclair Broadcast Group, owner of the biggest portfolio of local sports networks, has actually begun using a streaming alternative in a few of its markets and strategies to present streaming gain access to for all of its channels in coming months.

Comcast still owns a handful of other regional sports channels, such as NBC SportsPhiladelphia The Wall Street Journal formerly reported it was checking out a sale of the networks.

Disclosure: CNBC is owned by Comcast’s NBCUniversal.