Friday, November 22, 2013

Comcast releases statement concerning Houston Astros lawsuit


Last night I tweeted David Barron's report on Houston Astros owner Jim Crane filing a lawsuit concerning Comcast SportsNet Houston:

Jim Crane’s Astros ownership group filed a state court lawsuit Thursday against former Astros owner Drayton McLane, Comcast and NBC Universal, accusing them of fraud and civil conspiracy and accusing McLane’s corporation that owned the Astros of breach of contract in conjunction with Crane’s 2011 purchase of a 46 percent interest in the parent company of Comcast SportsNet Houston.

The suit accuses McLane, who sold the Astros and his CSN Houston share to Crane in 2011 for $615 million, of selling “an asset (the network) they knew at the time to be overpriced and broken.” It also says Crane was “duped” when he bought McLane’s network interest based on what have been proved to be “knowing misrepresentations” and “falsely inflated subscription rates.” READ MORE

In response to the Houston Astros court filing yesterday in Texas, Comcast/NBCUniversal has released the following statement:

"Comcast/NBCUniversal vehemently rejects any claim of wrongdoing asserted by the Astros. This litigation outside the bankruptcy proceedings is a desperate act, committed during a period in which Mr. Crane and his team of sophisticated advisors have been granted by the Bankruptcy Court an opportunity to explore and effectuate solutions to the Network’s serious business problems. Instead, it appears that Mr. Crane is suffering from an extreme case of buyer's remorse, and aiming to blame the Network's challenges on anything but his own actions. Comcast/NBCUniversal looks forward to vindicating itself in this litigation and also remains committed to a reorganization of the Network in Bankruptcy Court."


4 comments:

  1. Jim Crane is an idiot! No sympathy for him.

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  2. Crane should fire all of his advisors who were in charge of vetting the proposal. Crane isnt dumb and his people aren't either. Just cant believe he bought the Astros without getting all the information. Seems to me either his people didnt do what they were suppossed to do or he thinks we are dumb enough to believe his BS.

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  3. "Crane isnt [sic] dumb..."

    Given what has transpired over the past 18 months or so, you must be a relative.

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  4. Not a relative but the past 18 months may prove otherwise. You dont become a billionaire by not being smart.

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