Chapter 7 cases typically move quickly. Chapter 11 cases move more slowly. Keep in mind that this is an involuntary case where one of the partners has already stated that the filing is improper. That will have to be litigated before the normal process takes place. This could take years.
http://blog.chron.com/sportsupdate/...half-of-comcast-sportsnet-houston/?cmpid=hpbn It looks like this will help close the deal for all major carriers. I felt like thus was thread worthy because of the magnitude.
Why in the world you arrive at that conclusion? Both the Rockets and Astros are investing their own money...the Astros haven't been paid their media rights fees in 3 months. I'm guessing the same is true of the Rockets, though I don't know how their payments are structured. The Astros apparently have been trying to terminate the deal altogether. Sucks to not have your product on TV and your partner (Comcast) not make scheduled payments as well.
It won't though...it will be an impetus to settlement of some kind. A restructure of the deal from a broader standpoint, which I'm assuming if ultimately the goal of all parties involved...though they probably have different ideas as to how to restructure.
Good luck with this thread, it's already being discussed a lot in the other CSN thread. But I do hope it allows a deal to be reached before the start of the Rockets regular season....although I doubt it will be.
That Astros attempt to terminate the deal is a play. They know no one will give them this much money for that garbage team. CSN is doing whatever it can to get the noose of the Astros off their necks so that they are in a better position to make money from the Rockets.
could have kept it in other thread, I feel y'all pain without having csn, I had to deal with it last year until I switched to comcast this summer
This is such a mess at this point that I can only laugh. As a fan of both teams, I'd love to be able to watch them play at some point, but I don't want to give anybody involved with CSN any of my money now, after depriving me of full seasons of both the Rockets and Astros (albeit I wasn't missing much in the Astros' case). This really shouldn't be that complicated. Giant corporations and their business politics are so screwy and full of crap--what's going on right now is the opposite of efficiency (so many potential dollars going down the drain for both side) and the opposite of serving the interests of consumers.
All of these are plays....the biggest play is partner 1 (Comcast) having a creditor who is actually an affiliate of partner 1 file an involuntary bankruptcy petition against the partnership. That's beyond being a "play." I've been in commercial litigation for 13 years, and this is a new one on me...and it borders on breach of fiduciary duty if the Comcast partner instigated this. Seems like a conflict of interest to me...but I haven't seen the organizational documents to be able to make that call.
Crane alluded to it back in late May...said that they had "tough decisions" coming if the network didn't find carriage soon.
This needs its own thread, it is a new topic and hopefully a turning point for the network. Here's to hoping a resolution is near and we all get to watch the Rockets (and not virus laden streaming or Ball Streams)
The channel is not going away, the losses on CSN are small potatoes for all the parties involved other than the $100 million owed to the Philadelphia finance company and who knows who owns them since I believe it was formed to finance this deal. It seems to me (non-lawyer) that this suit is just about how to share the losses among billionaire owners and companies. That, CSN is withholding payments to the Astros for (fiduciary duty?) not holding up their part of being competitive while collecting significant profits, and for devaluing the network for the other partners. CSN is paying the losses while the Astros are making money. I don't think it has anything to do with the carriage rights. Defending the fees for the long term actually does make a difference for Comcast since those deals are for 20 years and the rate charged effects the negotiations for all future deals nationally. It's just an "in-house" squabble about sharing the burden.
Can we just dissolve our baseball team and use their leftover funds to improve the Houston Rockets facilities? I have never seen a franchise like the Astros, with no hope, no future, and no chance at being anything other than the bottom rung of the ladder.
Jeff Luhnow knows what he's doing. He's a sharp guy and he had to pick up after Ed Wade's bull****. Give it time.
