Teams would take ownership of regional sports network from Warner Bros. Discovery, which...
The Astros and Rockets are negotiating to take over AT&T SportsNet Southwest as regional sports networks face financial problems.A decade after losing millions of dollars from the collapse of Comcast SportsNet Houston, the Astros and Rockets are negotiating to get back into the regional sports network business as owners of AT&T SportsNet Southwest.
Officials with the Astros, Rockets and Warner Bros. Discovery declined comment on the nature and progress of the negotiations. Houston, however, is expected to emerge from the RSN shuffle with local team ownership — a stunning contrast from developments in 2013-14, when the Astros and Rockets lost control of CSN Houston in a bankruptcy court dispute with Comcast. Each team lost more than $100 million in unpaid rights fees plus hundreds of millions of dollars in equity with the collapse of CSN Houston.
The Houston channel, which will get a new name once the Astros and Rockets take ownership, will join team-owned RSNs in several markets, among them New York, Seattle and Boston, that thus far have avoided the worst of the financial woes enveloping Bally Sports and AT&T SportsNet. AT&T SportsNet Southwest is available to be acquired because WBD is seeking to reduce debt and pare down expenses, focusing on such national channels as HBO, HGTV, Discovery Channel, CNN, TBS and TNT, and regional sports do not fit with that business plan.
However, with fewer subscribers to traditional pay TV services, RSN proceeds aren’t enough to pay rights fees and pare down debt.
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