NBCUniversal sale of ownership in NBC Sports Washington to MSE
Davis Polk is advising Comcast Corporation and NBCUniversal Media, LLC in connection with the acquisition of NBCUniversal’s 67% stake in NBC Sports Washington by Monumental Sports & Entertainment. MSE currently owns 33% of NBC Sports Washington, which it acquired in 2016. The transaction is subject to regulatory approval and other customary conditions. Financial terms of the transaction were not disclosed.
As part of the transaction, NBCUniversal will continue to assist in the operation of the network by providing corporate and shared services, including distribution, technical resources and production facilities, for up to 18 months.
Comcast is a global media and technology company that connects people to moments that matter. Comcast principally focuses on connectivity, aggregation and streaming with 57 million customer relationships across the United States and Europe.
NBC Sports Washington is the exclusive local television rightsholder for Washington Wizards and Washington Capitals games. The network is available throughout the District of Columbia, Maryland and Virginia, as well as parts of Pennsylvania, Delaware and West Virginia.
MSE’s platform encompasses five professional sports teams: the NHL’s Washington Capitals, the NBA’s Washington Wizards, the WNBA’s Washington Mystics, the NBA G League’s Capital City Go‐Go and the NBA 2K League’s Wizards District Gaming. In addition, MSE owns and operates Capital One Arena and manages the MedStar Capitals Iceplex, MedStar Health Performance Center and EagleBank Arena.
The Davis Polk corporate team includes partner William H. Aaronson and associate Sarah H. Moller. Partner Matthew J. Bacal and associates Christopher C. Woller, Brette L. Trost and Edwin P. Paillant are providing intellectual property advice. Partner Kyoko Takahashi Lin and associate Charlotte R. Fabiani are providing executive compensation advice. Partner Patrick E. Sigmon and associate Yixuan Long are providing tax advice. All members of the Davis Polk team are based in the New York office.