Monumental Sports & Entertainment (MSE) on Wednesday announced the completion of the previously announced acquisition of NBCUniversal’s 67 percent interest in NBC Sports Washington from Comcast Corporation.
MSE, which acquired 33% of NBC Sports Washington in 2016, now fully owns the regional sports network.
Financial terms of the acquisition were not disclosed. LionTree acted as exclusive financial advisor to MSE on the transaction.
NBC Sports Washington is the exclusive local television rights holder for the Washington Capitals and Washington Wizards games. The network is available throughout the District of Columbia, Maryland, and Virginia, as well as portions of Pennsylvania, Delaware, and West Virginia. The network was founded in April 1984 as Home Team Sports and has served as the regional television affiliate of the Capitals and Wizards since its inception.
As part of the transaction, NBCUniversal will continue to support the network’s operations by providing corporate and shared services, including sales, technical resources and manufacturing facilities, for up to 18 months. NBC Sports Regional Networks, part of NBCUniversal Local, operates a portfolio of six regional sports networks.
NBC Sports Washington is expected to retain its current name and branding through the 2022-23 season. A network rebrand is expected for the 2023-24 seasons of Capitals and Wizards.
MSE’s platform includes five professional sports teams: the NHL’s Washington Capitals, the NBA’s Washington Wizards, the WNBA’s Washington Mystics, the NBA G League’s Capital City Go-Go, and the NBA 2K League’s Wizards District Gaming.
MSE also owns and operates Capital One Arena and manages MedStar Capitals Iceplex (practice facility for the Capitals), MedStar Health Performance Center (practice facility for the Wizards, Mystics and Go-Go) and EagleBank Arena (venue for live performances). on the campus of George Mason University in Virginia).
MSE was also a pioneer in sports betting, opening Caesars Entertainment in 2020, North America’s first-ever in-arena retail location at Capital One Arena. The company also launched a unique regional sports streaming service for local and high school sports and exclusive content on Capitals, Wizards and Mystics with Monumental Sports Network in 2016.