After tonight’s disappointing loss, Astros fans are in need of some good news. We may actually have some regarding the CSN Houston bankruptcy case. After yet another round of courtroom drama earlier today, the Astros and Rockets are suddenly optimistic. An unnamed buyer is ready to come to the rescue!
David Barron reports the buyer wants to close a deal for the troubled Regional Sports Network by Thursday. The Astros and Rockets are both in favor but Comcast is waffling. The unidentified buyer is assumed to be one of Comcast’s competitors. That’s where things get a little dicey.
Comcast is apparently hesitant to sell. The assumption is that many of the current CSN Houston employees would lose their jobs if the deal goes through. I don’t think that would be a big deal for the people that just want to be able to see their favorite team’s games on television.
The Astros and Rockets, meanwhile, note that Comcast announced on nine different occasions since last September that it planned to buy the CSN Houston partnership out of bankruptcy, only to announce in March of this year that it would not do so.
“The teams believe that Comcast’s public position chilled the interest of third parties in participating in a restructuring of the network,” the Astros and Rockets said. “Then, shortly after entry of the order for relief (putting the network under Chapter 11 protection in February), Comcast publicly pulled its offer, an action that unquestionably harmed the network.”
The teams say that Comcast “continues its efforts to block a positive reorganization” by making unreasonable demands that are intended to prevent the deal from taking place.
Comcast filed a motion today in an attempt to protect its two members of the CSN Houston board that is working through the bankruptcy reorganization. That motion was denied. That could turn out to be great news for Astros and Rockets fans. Stay tuned. We could actually have a resolution soon.