You are viewing the archive: “Dodgers”

Dodgers Sale To Magic Johnson Group Wins Bankruptcy Court OK

By THE DEADLINE TEAM | Saturday April 14, 2012 @ 8:19am PDTTags: Dodgers, Magic Johnson

http://www.deadline.com/tag/dodgers/Sale of the Los Angeles Dodgers for a record $2.15 billion to a group led by former LA Lakers star Magic Johnson has been approved by federal bankruptcy Judge Kevin Goss, Bloomberg reports. Buyers also include Guggenheim Partners Chief Executive Officer Mark Walter and former Atlanta Braves and Washington Nationals President Stan Kasten. Remaining disputes between the bankrupt team and Major League Baseball will be submitted to the judge, who is expected to make final decisions to allow the deal to close April 30. MLB’s remaining issues with the proposed sale include who will own stadium parking lots and whether court-appointed mediator Joseph Farnan will retain authority to make final rulings related to the transaction. Gross praised Farnan, a retired federal judge, asserting that without his work, the sale and the end of bankruptcy would have taken much longer. If the deal proceeds as expected, the Dodgers can exit bankruptcy April 30.

Related: Magic Johnson’s Group Wins Bidding To Buy Dodgers For $2B

Comments (0)

Dodgers Bankruptcy-Exit Hearing April 13

By THE DEADLINE TEAM | Saturday April 7, 2012 @ 7:01am PDTTags: Dodgers, Guggenheim Partners, Magic Johnson

The bankruptcy judge in the Los Angeles Dodgers case has scheduled a hearing April 13 to consider whether to confirm the revised Chapter 11 plan filed yesterday, ESPN reports. The Dodgers said the team is on track to exit … Read More »

Comments (0)

News Corp Planning 24-Hour Sports Network To Rival ESPN: Bloomberg

By PATRICK HIPES, Managing Editor | Wednesday March 28, 2012 @ 1:09pm PDTTags: Big Deals TV, Dodgers, ESPN, News Corp

Fox Sports National NetworkSources tell Bloomberg that News Corp is working to obtain rights from pay TV outlets and sports leagues to launch a national cable network that could begin service by year’s end. No final decision has … Read More »

Comments (13)

WSJ: Fox Eyes Minority Stake In Dodgers To Sweeten Chances Of Landing Local TV Rights

By PATRICK HIPES, Managing Editor | Thursday January 12, 2012 @ 9:47am PSTTags: Dodgers, Fox, Prime Ticket, Time Warner Cable

Chase Carey said back in November that News Corp had no interest in buying the Los Angeles Dodgers, but that appears to have changed. The Wall Street Journal reports today that Fox has signed a nondisclosure agreement that allows it to bid to purchase the team. According to WSJ, Fox would seek a 15%-20% minority interest only — it doesn’t want to own the team outright, like it did from 1998-2004 — in a move designed to give it leverage over lucrative local TV rights. Currently, Fox Sports’ regional Prime Ticket network has exclusive rights through the end of next season, and just settled a lawsuit with the Dodgers, who wanted to shorten that exclusivity window to force a bidding war for TV rights, which could be worth as much as $3 billion. That monster number is at the heart of what will be a wild bidding process to buy the team, with that potential windfall driving up the price of what any new owner (and there are many lining up to bid) will have to pay to purchase the team from owner Frank McCourt. Those initial offers from those numerous ownership groups are due January 23. Read More »

Comments (1)

Fox Sports Asks Court To Dismiss Dodgers From Bankruptcy

By THE DEADLINE TEAM | Friday November 18, 2011 @ 8:48pm PSTTags: Bankruptcy, Dodgers, Fox Sports, Frank McCourt

Fox Sports has asked a federal bankruptcy court to dismiss the Dodgers from bankruptcy as the networks said it would earlier this week, the LA Times reported late Friday. Fox Sports said it is not necessary for … Read More »

Comments (4)

McCourt Tries To Put Squeeze Play On Fox, Claims TWC, Dish And DirecTV Might Bid

By THE DEADLINE TEAM | Friday September 16, 2011 @ 9:58pm PDTTags: Dodgers, Fox, Major League Baseball, TV Rights

The Los Angeles Dodgers today asked the judge in their bankruptcy case to let them auction off their local TV rights for the 2014 season and beyond. The team said the sports rights market was “vibrant” now and they wanted … Read More »

Comments (9)

Fox Sports Not Part of Proposed Dodgers-MLB Loan Deal

By THE DEADLINE TEAM | Friday August 5, 2011 @ 2:23pm PDTTags: Bud Selig, Dodgers, Fox Sports, Frank McCourt, News Corp

The Los Angeles Dodgers agreed to borrow as much as $150 million from Major League Baseball, almost two weeks after the judge overseeing the team’s bankruptcy ordered the two sides to negotiate a deal. The Dodgers today sought a judge’s … Read More »

Comments (3)