CSN Updates Thread

GAAAAAGGGGGHHHHHHH!!!!!

I don't even care just PUT THE ROCKETS ON MY TV!!!!! This is pissing me off beyond anything I AM JUST SO ANGRY!!!

 

Given all of this crap...I wish NBA and MLB would forget territorial restrictions for these teams for the benefit of their fans...and just allow us to be able to buy MLB package and NBA package and still watch our team. I'd be happy to do that for both. That would be great. I know there are advertisers who'd be pissed..and it won't work...but that's what I wish would happen at this point. It's likely where sports programming is going, anyway, as I read and understand it.

 

Given where the payroll was last year, it shouldn't be hard to "vow to raise payroll."

 

Side deal or not, if the MFN deal is put on paper, I have a hard time imagining that McLane could have hidden it from Crane during the due diligence phase of the deal. And I have a hard time imagining such a deal would not be put on paper, given the obvious financial impact that it has. Also, I'd imagine that the deal between CSNH and Comcast regarding the Zone 1 rate is put in writing, in the form of a contract containing the standard integration clause (basically stating that nothing is agreed to other than what's written here). If so, it's hard to see how MFN could be even enforceable if it's not written in there.

Anyhow, we'll just have to see what exactly was said/written down on this issue. It's just hard to imagine that things happened the way Crane claims that they happened given what we know about how these deals get made. Seems that NBC/Comcast/Leslie/McLane would all have to be incredibly stupid and reckless to have done what they are now being accused of.

I certainly would not have done what Leslie is apparently being accused of if I were in his shoes: Why subject myself to a lawsuit just to help McLane get $100M or $150M more from selling the Astros?

 

Perhaps he's not complaining about the existence of the MFN clause but the fact that McLane and Les agreed to it after Comcast said the price they wanted was intractable. Either way, seems like a pretty big reach by Crane.

 

No pleadings against Les yet. But if that happens, it's not going to be about comments made or withheld BEFORE Crane became his business partner. It's going to be about omissions afterwards...failure to fully disclose stuff to a partner/fiduciary duty stuff.

 

I can't think of a reason why Les (or Comcast/NBC for that matter) would hide the "side deal" or whatever from Crane after he bought the Astros and the CSNH interests, either.

What's the upside for Les in misleading Crane into thinking either a) there is no MFN clause or b) that the market for CSNH carriage rights is higher than Les knew it would be?

And then then Les and Comcast apparently changed their mind in October 2012 and told Crane about this secret deal? Makes no sense.

 

He wouldn't have to intentionally hide it. Hiding requires some intention. Just failing to disclose is still breach of fiduciary duty among partners.

He find out about it subsequent to the purchase..that's really all that matters with respect to McLane. If McLane failed to disclose this...if it didn't show up in the documents (and honestly, that's super easy to prove one way or the other -- you track all that stuff in a transaction like this)...and if he was never told of this otherwise...then it's trouble.

If Comcast KNEW they couldn't reach those numbers, but they told Crane otherwise...then that's trouble. If Comcast told McLane they knew they couldn't reach those numbers...and McLane represented to Crane otherwise....then that's trouble.

If it didn't happen that way, then there's not trouble. I have no idea what actually happened.

 

Enough twitter...watch it here:
<iframe src="http://player.theplatform.com/p/zT2_HC/iEazkwCwmKPM/embed/select/6MDvVgFgEwas?params=zone%3Dcsnvideo=true" width="480" height="270" frameborder="0" seamless="seamless" allowfullscreen>Your browser does not support iframes.</iframe>

 

I like that CSN-H is the one covering the hearing about it's owners suing each other!

 

http://blog.chron.com/ultimateastro...calls-csn-houston-a-fraudulent-business-plan/

Shots fired.

 

I didn't even catch that. Hilarious!

 

It is hilarious.

 

So...

the statute of limitation was expiring on his ability to sue McClane, but Crane is preserving his ability to sue the Rockets? How does that work?

Are threats against the Rockets an empty attempt to intimidate them into not choosing sides?

 

It's possible limitations period for McLane was specifically set out in the purchase agreement of the Astros.

You typically have 4 years for fraud and breach of contract...but you can limit those by agreement.

 

A little off topic, but would have a trickle down effect...so now Comcast may buy/merge with Time Warner?!


http://www.cnbc.com/id/101220981

 

Thanks.

That makes me think the suit against the Rockets is going to happen eventually, barring a major setback here, or a settlement before the fact.

 

Can't wait for the 30 for 30 documentary CSN Houston.