While it's good if this thing gets done so that most all of Houston can see games, I still think it's sad that CSNH goes away. It is actually a quality network with decent shows/commentary. Have you seen Root Sports? It has a piece of **** website (www.rootsports.com) and you can tell it's definitely a bare bones operation.
<blockquote class="twitter-tweet" lang="en"><p>We're getting into some pretty high legal weeds, including distinction between secured & unsecured lenders and which gets repaid & how much.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507543432387383296">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>I realize this has little bearing, on the surface, on whether you will get to see the Rockets opener on TV, but it actually does.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507543609760305152">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Comcast, as you know, has filed a motion objecting to elements of the reorganization plan and saying that it cannot be confirmed.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507551999349764096">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>It appears those issues will be addressed at the Oct. 2 confirmation hearing, so we won’t have major discussions on that topic today.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507552134372802561">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
So basically, the reorganization brief needs to get reworded to clarify what happens if the creditors vote it down and Comcast is hoping there is something in the negotiation emails about the Astros/Rockets getting a sweetheart deal after the purchase is completed? I'm guessing that means Comcast sees the writing on the wall and are hoping to salvage as much of their $100M loan as possible?
<blockquote class="twitter-tweet" lang="en"><p>A key issue in Ch. 11 settlement is how much value should be given to Comcast assets, including agreement to carry net on its cable system.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507558190775816192">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>The team-backed expert report is now due Sept. 19. Comcast’s report was due Sept. 21, but Comcast says it hasn’t gotten info it needs.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507558564660264960">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Judge Isgur now says he will give Comcast 10 calendar days after report is filed to file its expert report.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507558662702116864">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>This period includes the Jewish holidays, so this could complicate the schedule leading to the Oct. 2 confirmation hearing.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507558858462887937">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Teams could get their report to Comcast earlier if they want.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507559010116308992">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Judge Isgur wants to stay as closely as possible to schedule, which includes confirmation hearings Oct. 2 and possibly continuing Oct. 6-7.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507559130014683136">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Lawyers are now arguing over document production. Comcast wants internal info from DirecTV and AT&T it hasn’t received re proposed deal.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507559470470561793">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>For example, even though teams say they are getting less rights $ from DirecTV/AT&T, Comcast says it thinks rights deal may be above market.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507560336032272384">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Comcast wants info to help it determine whether Rockets/Astros are getting more rights money in return for giving up equity in the network.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507560497026437120">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>AT&T says it already has provided 16,000 pages of documents to Comcast & sent more last night.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507560700617949185">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>AT&T attorney Bill Greendyke: “What we decided not to do is irrelevant.”</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507561035071762432">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Greendyke says about a thousand pages of documents have been withheld, most involving terms that are not part of the deal.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507561442644865024">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Judge suggesting that AT&T documents could be submitted directly to him and he will decide what goes to Comcast in discovery.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507561752964653057">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>I realize this is tedious, but it does relate to how quickly the network transfer will take place and if/when more people can see games.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507562147099193345">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>DirecTV attorney Chris Lopez says it has provided more than 10,000 pages of documents to Comcast as part of discovery.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507562367807680512">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Astros attorney Paul Basta says Comcast is floating “conspiracy theories” about teams’ agreement with DirecTV/AT&T.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507565462637776896">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>Judge Isgur says he will look at withheld 1,000 docs from AT&T and 300 docs from DirecTV and decide if Comcast will get them.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507566113543426048">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> <blockquote class="twitter-tweet" lang="en"><p>We are adjourned and will return at 3:30 p.m.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507567639141814272">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Curious, what happens if the creditors don't approve the plan? Does this whole process start up again with a new plan, or does this bankruptcy convert to a liquidation at some point?
damit man i have to decide by the 13th if i wanna lock in for 2 years with comcast or i got back to my originally bill... guess i wont re-up and just wait a little longer....
If the Astros/Rockets and AT&T/DTV were dumb enough to put details or hints of a side deal in email correspondence, then they don't deserve to get the reorganization plan approved. Hopefully both sides were smart and there isn't anything relevant in the additional documents.
They were for the last year, but I don't see why this is unreasonable. The Astros/Rockets negotiated this deal without any Comcast input - as a partner and creditor in this process, I think they have a reasonable argument to know what was going in the negotiations.
Some but not all are. The thing they would be gambling on though is voting against it means they probably have to form a different plan, which most likely means more delays and less equitable plans for the teams, comcast and creditors. that is why I think the decision by the judge to make them declare an alternative if it is voted down. This should give creditors an idea of what to expect if ATT/DTV aren't taking over. Or at least that was how I read it.
I don't disagree. This seems to me like it is a play to make sure they get as much out of the deal, as possible (which I have no problem with). Same kind of thing the Astros and Rockets have done in other dealings. Trying to make sure they get the best deal possible for them.
<blockquote class="twitter-tweet" lang="en"><p>Attorneys have wrapped up work on the disclosure statement and we are adjourned.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/status/507644179527122945">September 4, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
That's too bad it didn't work out in it's current form. [rQUOTEr]Attorneys wrapped up preparation Thursday of an information document for Comcast SportsNet Houston creditors, moving the contentious Chapter 11 bankruptcy case closer to an Oct. 2 hearing that could determine the manner in which Astros and Rockets fans view games on local television. Creditors will vote through Sept. 25 on a plan that will transfer ownership of Houston Regional Sports Network, the parent company of CSN Houston, from the Astros, Rockets and Comcast to an AT&T-DirecTV partnership that likely will rebrand the channel as Root Sports Houston. Comcast entities will vote through Sept. 29. After the creditors’ votes are counted, U.S. Bankruptcy Judge Marvin Isgur will preside over an Oct. 2 hearing that likely will represent Comcast’s last stand to recoup as much money as it can from the wreckage of the network that it and the teams launched with such optimism in September 2012. The new channel that will emerge from the bankruptcy reorganization plan, if approved, will expand access to Astros and Rockets games (and, presumably, Dynamo games under an existing contract), with carriage on DirecTV and AT&T U-verse in addition to Comcast cable, but it likely will not carry news and other programs now seen on CSN Houston. Attorneys spent most of Thursday refining a 64-page document known as a disclosure statement that details issues for creditors. Much of it details the basics about bankruptcy procedures and the history of the network dispute, but it also sets out issues in dispute between its proponents – the Astros, Rockets, DirecTV and AT&T – and Comcast. Proponents say the plan “will provide the best recoveries available to claimholders.” Comcast says it “is patently unconfirmable and fails to provide fair value,” specifically regarding the proposal to give it only $16 million to $23 million of a $100 million loan it granted the network for startup costs in 2012. The plan calls for the repayment in full of about $8 million in tax, administrative and priority claims and for about $607,000 in claims by network vendors. Less clear is the prospect of repaying $292 million in unsecured claims, which may be the subject of future lawsuits. The Astros and Rockets support the plan because it will allow their games once again to be seen across most of the 2.2 million TV households in the Houston area and, for Astros games, across a five-state area. However, the teams say they will pay a fearful price. They will lose their equity in the network, which was valued at $700 million when the partnership was launched in 2010, and give up the right to demand immediate cash payment of more than $100 million in unpaid rights fees. The teams were scheduled to receive a combined $100 million in rights fees in 2012-13, with annual increases, under the failed CSN Houston network plan and say their rights fees deals with AT&T and DirecTV will be “materially worse.” Attorneys for Comcast, however, say the teams may be getting above-market rights fees in return for surrendering network equity. Astros attorney Paul Basta dismissed that as “conspiracy theory.” Attorneys for AT&T and DirecTV said they had provided more than 26,000 pages of documents to Comcast attorneys, but Comcast also wants access to internal documents. The companies agreed to provide about 1,300 documents that Isgur will examine before determining whether they should be given to Comcast. While creditors receive ballots, attorneys will take depositions and prepare arguments for the Oct. 2 hearing, which could continue into Oct. 6-7. http://blog.chron.com/sportsupdate/2014/09/csn-houston-resolution-moves-into-voting-stages/[/rQUOTEr]
I don't even have comcast, but I hear the shows and content on the channel is great. Wish there was a way to keep that
It is. I do too. By all accounts, Root won't do so. A quick look at their Seattle, Pittsburgh and Denver sites show how basic they keep everything. YES, WE WILL HAVE THE GAMES, but little else. The mornings are primarily filled with paid programming. The concept for CSN Houston was terrific from a content and coverage of our area teams, and not just the Astros and Rockets. Obviously it was the execution (distribution, etc) that failed. Hopefully once Root gets their operation running they'll ramp things up, but that's not their track record. Even CSN's Texans coverage was 2nd to none in town, including the Fox SW, a partner with the Texans. Again: THE GAMES WILL BE TELEVISED FOR ALL TO SEE and that's what matters most to the fans AND the teams. It's just a shame it couldn't have worked out.
