Saturday, October 5, 2013

David Barron's CSN Houston update

David Barron has a status update on what to expect from CSN Houston in the short-term. It's well worth a few minutes to read through, but since I'm lazy and can't quite yet bring myself to even think about the Astros' 2013 season, here's an outline:

1. On Monday (October 7), the Astros will ask for the involuntary bankruptcy suit to be dismissed.
2. The creditors have a week to reply.
3. There will be a hearing about the dismissal on October 28, as well as the creditors' request for a judge to appoint an interim trustee for CSN Houston. This interim trustee would (if the network stays in Involuntary Bankruptcy) have the power to negotiate carriage deals without the Astros' or Rockets' consent.

Here's your money quote, from Barron:
I think the more likely outcome is that Comcast will buy out the Rockets and Astros, even if it has to pay more than it wants to pay, rather than running the risk of having the Astros bolt if the bankruptcy case is dismissed, which would result in the loss of several tens of millions that Comcast/NBC has invested in the network. Astros owner Jim Crane said this week that Comcast offered to buy him out but that he rejected the offer. He said Comcast rejected his counteroffer and did not reply to a second counteroffer.

So, basically, the most likely outcome - according to Barron - is that the Astros and Rockets start over with this whole idea of "getting their product on televisions."

1 comment:

The Batguy said...

At this point, it's probably for the best that they start over. This whole thing has been a cluster.