Monumental Sports & Entertainment (MSE) is acquiring 100 percent of NBC Sports Washington (NBCSW), the companies announced on Tuesday.
Monumental Sports & Entertainment and Comcast Corporation (the parent company of NBC Sports Washington) announced that they've entered into an agreement under which MSE will acquire 100 percent of the equity interests in NBCSW by acquiring NBCUniversal's 67 percent stake in the network.
MSE previously owned 33 percent of the network, an acquisition that was made in 2016.
NBC Sports Washington owns the television rights for the Washington Wizards and Capitals, which are both owned by Ted Leonsis, the founder and chairman of MSE.
"We at Monumental Sports & Entertainment are incredibly excited to have reached an agreement to acquire NBC Sports Washington, an important business for our current and future core business operations," said Zach Leonsis, who's the president of media and new enterprises for MSE. "Comcast NBCUniversal has built a strong regional sports network in NBC Sports Washington. We look forward to further enhancing and innovating on the already best-in-class experience that our fanbase enjoys of watching live sports, for years to come."
NBCUniversal will continue to assist in the operation of the network after the deal, MSE says, services which include distribution, technical resources and production facilities for up to 18 months.
The Sports Junkies, who air Monday through Friday from 6 a.m. to 10 a.m. on 106.7 The Fan and NBC Sports Washington, will continue to air as normal on both after the deal.
"Monumental Sports & Entertainment’s interest in full ownership of the network is a unique opportunity," said Bill Bridgen, President, NBC Sports Regional Networks. "Their leaders have been engaged and collaborative partners in NBC Sports Washington who, like us, value local sports media and are committed to serving fans now and investing in the future. We look forward to continuing our work with them during the transition to support the network’s continued growth and success."
The deal is still subject to regulatory approval. Financial terms were not disclosed.
MSE also owns the Washington Mystics, the Capital City Go-Go (D.C.'s G League affiliate) and the NBA 2K League's Wizards District Gaming, as well as Capital One Arena, which is home to the Wizards and Capitals.