Boston, MA 09/04/2014 (wallstreetpr) – According to reports, AT&T Inc. (NYSE:T) and DIRECTV (NASDAQ:DTV) are on the verge of becoming the new owners of Houston Regional Sports Network LP. It is one of the sought after deals for both the companies, but Comcast Corporation (NASDAQ:CMCSK) wants them to provide the entire information of the deal. Although both the companies don’t look forward to giving any information about their deal with two sports companies to buy the network.
Houston Regional Sports Network LP. Owns the rights to telecast games played by National Basketball Association’s Rockets and the Astros of Major League Baseball. These two teams are the co-owners of the network along with Comcast Corporation (NASDAQ:CMCSK). According to reports, CMCK is soon going to lose the ownership of the network to T and DTV. The equity will be divided between both the new co-owners in a ratio of 40:60.
What’s the matter now:
As per the reports, Comcast Corporation (NASDAQ:CMCSK) has asked a bankruptcy judge to force the turnover of the information within next few days. The deadline given by the company is September 7, 2014. A hearing is all set to take place on September 4, 2014 regarding disclosure materials explanation. CMCSK said in its defense that T and DTV didn’t have faith in the supremacy of internal communication. According to them, there was no need for any internal communication between CMCSK and other parties for the approval of this deal.
One of the representatives of Comcast Corporation (NASDAQ:CMCSK) said, “They are not ready to disclose the T&C or any hidden fact of this transaction that is creating doubt like what they want to hide and why?” According to the company, no transaction should be executed unless the inputs from all the partners are taken. Past data claims that CMCSK filed an involuntary bankruptcy in September 2013, and when bankruptcy judge couldn’t find a buyer, he decided to put the network into Chapter 11 reorganization in February.