That's fine and all... the abrasiveness, not so much. I'd say your posts here certainly qualify as a tantrum. The latter... seems to be a figment of your imagination. Don't like what I say, don't read it. /derail #BeWell
Here's the pdf file of the petition. Can you lawyer types break it down: http://blog.chron.com/sportsupdate/wp-content/blogs.dir/1916/files/2013/09/Litner-Declaration-1.pdf http://blog.chron.com/sportsupdate/...nkruptcy-trustee-to-oversee-troubled-network/ New article: CSN Houston faces ‘total gridlock;’ Comcast/NBC wants bankruptcy trustee to oversee troubled network Saturday, September 28, 2013 Litner Declaration-1Comcast SportsNet Houston faces an “urgent financial and corporate government crisis” and cannot pay its bills because of “total gridlock” among its three partners – the Astros, Rockets and Comcast/NBC Universal, according to a federal bankruptcy court petition filed Saturday. Three units of Comcast/NBC Universal and a fourth television-related company filed an involuntary Chapter 11 petition Friday against CSN Houston, the financially struggling regional sports network that telecasts Astros, Rockets and Dynamo games. NBC Universal said in a statement that the action was “necessary to preserve CSN Houston’s ability” to remain in business. The Astros replied in a statement that the Chapter 11 filing was improper but also acknowledged that CSN Houston has not paid broadcast rights fees to the Astros for the last three months. Early Saturday, the network’s creditors asked U.S. Bankruptcy Judge Marvin Isgur to appoint an interim trustee to oversee network operations while the bankruptcy petition winds its way through court. Chapter 11 bankruptcy allows companies to continue operations while the court deals with creditors’ claims, so network will remain on the air while the case is contested. In fact, Comcast said in one document filed Saturday that if the bankruptcy court sees fit, it would be willing to buy the entire network and continue in business under the CSN Houston name. The Astros currently own about 46 percent of the network, the Rockets own about 31 percent and Comcast/NBC Universal owns 22 percent. The sharp disputes between the Astros and Comcast/NBC Universal were made clear by their Friday statements. Saturday’s filings provide more thorough detail into the ongoing disputes over critical issues, including the inability to reach affiliation agreements with such carriers as DirecTV, Dish Network and AT&T U-verse. However, those documents are heavily edited or redacted to prevent public disclosure of what Comcast/NBC Universal describes as “commercial information” that it claims would damage CSN Houston if it is disclosed publicly. Among the few comments that have not been shielded from public view is a reference to “the deadlock among the parties (that) has thwarted all efforts to engage in any constructive exercise to salvage the Network.” “The question before this court is by no means who is ‘right’ or ‘wrong’ in the various disagreements that have arisen among the parties,” the petition continues. “This bankruptcy filing is not an effort to have this court adjudicate any such dispute … (but) to preserve the going concern value of the network.” Another section of the petition refers to disputes that have created “total gridlock” for the network. CSN Houston has a four-member board – one representative each from the Rockets and Astros and two from Comcast/NBC Universal – and all parties must agree for deals such as carriage agreements to be reached. But the disagreements among the parties are so sharp, the petition said, that they “go beyond mere acrimony” and that the board “will continue to be working at ‘cross-purposes’” unless a trustee is appointed by the bankruptcy court to oversee CSN Houston while the parties sort out their differences. “It is clear that the network cannot operate its business or preserve itself as a going concern under its current corporate governance structure, which has resulted in an irreconcilable impasse,” the petition said. The primary creditor seeking to force bankruptcy is Houston SportsNet Finance, a unit of Comcast that provided a $100 million loan to ramp up the network’s launch last Oct. 1 and to fund construction of the network’s studios in downtown Houston. Robert S. Pick, senior vice president of Houston SportsNet Finance, said the company remains confident in CSN Houston’s value as a going concern. In fact, he said in a document filed with the bankruptcy court, “Comcast Lender … would be prepared to make a bid to acquire either the network (under a plan of reorganization) or substantially all of its assets. Since it launched last October, CSN Houston has now gone through a complete Rockets season and into the final week of the Astros’ 2013 season without being able to negotiate carriage agreements with major satellite and telco carriers. Astros owner Jim Crane has been outspoken in his conviction that the future well-being of the Astros and Rockets depends on reaching agreements that he believes reflect fair market value for CSN Houston. The network launched an “I Want My CSN Houston” advertising blitz last year, and Mayor Annise Parker arranged meetings with officials of DirecTV, Time Warner and Suddenlink in an attempt to assist in agreements but to no avail. Fans, meanwhile, have reacted angrily to the limited distribution of Astros and Rockets games, which have been widely available since the 1980s on Fox Sports Southwest, the teams’ former carrier. Although the Astros’ season ends this weekend, fan angst about missing another season of Rockets games on CSN Houston is expected to shift into a higher gear over the next few weeks with the approach of the team’s first season with free-agent acquisition Dwight Howard in the lineup.
It doesn't mean anything to anyone with Comcast. Regardless if the channel dissipates, they will go back to FSN and that channel is available on Comcast.
Forbes did report the Astros were the most profitable team in the MLB this year. So there's at least that.
And another Forbes sports business writer wrote a follow up piece mocking it. The original article talked about all the revenues they were getting from new TV deal. Yeah right. Station is bankrupt and hasn't made 3 months of payments to Astros.
Erroneous Story Claiming Houston Astros Most-Profitable Ever A Massive Strikeout http://www.forbes.com/sites/maurybr...ros-most-profitable-ever-a-massive-strikeout/
forbes also pretends to know how much money drug lords pablo escobar and chapo guzman have. forbes is a joke. its the national enquirer of the financial world.
I always enjoy a good laugh when the smartest guys in the room turn out to be average joe f***-ups like the rest of us. Not understanding the carriage agreements implications and not having agreements in place before investing was bush league level business management. Did they think a 100 loss team would be able to hold the carriers hostage? Is Comcast now trying to buy out the network for a dime on a dollar right before D12 mania hits?
Bull ****. Being the worst team in the MLB for 3 straight years while slashing payroll does not guarantee a sustained winner. Name me the last team that tanked 3 straight years and won a World Series. Do the Cardinals tank? How about the Rays since you'll bring them up? They were never Astros bad.
I can't fault current ownership for year one. Drayton was still the owner. And they bought a team that had been gutted at the minor league level. Rays and Nats both had league worst records 2 years in a row.
yea this is year 2 of the rebuild, but its the 3rd year the team has sucked, well worst in the league suckage. new ownership inherited a bad team with a depleted farm, one of the worst in fact. luhnow really turned nothing into something faster than most expected. i fully expect our farm to continue to get better even after all the current prospects get the call. the cardinals are just a well run organization, theyve been competitive at the mlb level and have had great farms. they are currently ranked #1 in farm systems. our new gm had a hand in those world series cardinals teams..
so they should not have the first pick in the draft again next year right? will Crane still be in the right for slashing payroll and fielding a minor league team?
