Nov 25
NewsCorp acquired 49% of the YES network which was said to be valued at $3B. Now the LA Times has released an article that says that according to parties familiar with the negotiations Fox Sports could pay at least $6B and possibly $7B over 25 years in a deal to retain the Dodgers’ television rights.
Which as a Mets fan leaves me with one question.
How much is SNY valued at?
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13 comments
Stick
11/25/2012-10:59pm at 10:59 pm (UTC -4)
probably a lot. So even only owning a portion of it, and having it leveraged up the wing wang, the Wilpons are probably sitting on a nice little cash cow.
But, it does not really matter for the Mets (in theory), since as long as the rights fee is set, the team does not see more money.
now, if they wanted to funnel more money into the team when the rights fee gets renegotiated, that would help the team’s budget. Though it would not necessarily be popular with the other owners of SNY!
I seem to recall that the Mets actually are pretty low to mid pack in what they get for TV rights, but I won’t swear to it. they are certainly lower than the teams that have recently renegotiated.
Mr North Jersey
11/25/2012-11:18pm at 11:18 pm (UTC -4)
Well I know that at least based on an old 2011 article that the WSJ reported SNY valued at $1B according to their sources and according to a 2011 NewsDay article SNY brings in about $300M a year from monthly subscriber fees.
The Wilpons own two thirds of SNY so I can see how they want to hold on to their percentage just in case they ever did have to sell a portion of their stock
Stick
11/25/2012-11:29pm at 11:29 pm (UTC -4)
Hell, if they were smart, they would sell the money-losing Mets, and hold onto their SNY shares.
Mr North Jersey
11/25/2012-11:43pm at 11:43 pm (UTC -4)
Also let’s not forget to include the Blue Jays who took on all that payroll is owned by the Rogers Communications who are reported to bring in $14B in sales and televise Blue Jays games. Seems like a good time to own a sports network.
We should start RDM TV Network. We could go on the air at 8:00am and be done and off the air by 8:05am.
Prismo
11/26/2012-9:22am at 9:22 am (UTC -4)
They’ll have a tough time selling the Mets without including SNY.
Stick
11/26/2012-10:38am at 10:38 am (UTC -4)
pretty sure they can’t. they only own a portion of SNY, and I believe that the other owners have first dibs. But no clue how long that goes for.
TX
11/26/2012-12:34am at 12:34 am (UTC -4)
Which is why the Wilpons ain’t selling. They are sitting on billions. They aren’t going anywhere until something wonderful drops in their laps.
Stick
11/26/2012-10:40am at 10:40 am (UTC -4)
the only way they are going is if you get the perfect storm of them having a serious cash crunch, and a legit buyer making them a huge offer.
Donal
11/26/2012-9:09am at 9:09 am (UTC -4)
Ya, this totally isn’t a bubble that is about to burst. I bet the Yankees in no way saw this as hedging their bets against customers revolting against cable companies and cable companies in turn revolting against the channels (which totally isn’t already happening)
kingman 26
11/26/2012-10:29am at 10:29 am (UTC -4)
It’s an excellent question…but without knowing the debt situation it is hard to really know.
srt
11/26/2012-10:34am at 10:34 am (UTC -4)
Agree. And I don’t think we as fans will ever really know what the Mets debt situation was and still is.
kingman 26
11/26/2012-10:39am at 10:39 am (UTC -4)
One thing we can be sure of is that it is massive and driving everything the Wilpons are doing.
Also, while I have not researched all of the teams involved, one would also assume that many of the teams getting this huge TV bonanza perhaps are doing fairly well, and also might be in less crowded TV sports markets than NY.
Still, if the Mets recover what they were from 2006–2008, ratings will surely go way up, and SNY will become much more valuable.
But, again, for all we know SNY is leveraged to the hilt and very possibly is the post-Madoff cash register for the entire organization.
Stick
11/26/2012-10:47am at 10:47 am (UTC -4)
I would bet the Mets ratings are still as good as any of those other teams, if not better.
and the piggy bank idea? Very possible, since IIRC SNY bought a couple of those $20mill shares.