Davis Polk advised Comcast Corporation and NBC Universal on an advanced media partnership with Monumental Sports & Entertainment (MSE) that extends Comcast SportsNet Mid-Atlantic’s exclusive media rights for the NHL’s Washington Capitals and NBA’s Washington Wizards and features an investment by NBC Sports Group in Monumental Sports Network, MSE’s digital sports and entertainment platform. MSE is becoming an equity partner in CSN Mid-Atlantic and receiving representation on CSN Mid-Atlantic’s board of directors and NBC Sports Group is obtaining an equity partnership in Monumental Sports Network, as well as representation on its board of directors. The financial terms were not disclosed.

CSN Mid-Atlantic, part of NBC Sports Regional Networks, is the official sports network of the NHL’s Washington Capitals, NBA’s Washington Wizards, NFL’s Washington Redskins and Baltimore Ravens, the Atlantic Coast Conference and Colonial Athletic Association. Monumental Sports & Entertainment is one of the largest integrated sports and entertainment companies in the country with one of the most diverse partnership groups in all of sports. MSE owns and operates four professional sports teams—the AFL’s Washington Valor, NBA’s Washington Wizards, NHL’s Washington Capitals and WNBA’s Washington Mystics—and is co-owner of aXiomatic, which has controlling interest in global esports franchise Team Liquid. The group also owns and operates Verizon Center in Washington DC.

The Davis Polk corporate team included partner William H. Aaronson and associates John B. Weinstein and Matthew M. Funk. Counsel Matthew J. Bacal and associate Samantha Lefland provided intellectual property and media rights advice. Partner Neil Barr and associates Kay Ng and Anne L. Doherty provided tax advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post