• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Fox Cable Networks to Acquire Turner South

Posted on: Thursday, 23 February 2006, 18:00 CST

Fox Cable Networks (FCN) and Turner Broadcasting System, Inc. (TBS, Inc.) have entered into an agreement for FCN to purchase Turner South, TBS, Inc.'s Atlanta-based regional sports and entertainment network. The cable and satellite television service currently reaches approximately 8 million subscribers across a six-state region compriing Alabama, Georgia, Mississippi, Tennessee, South Carolina, and regions of western North Carolina.

Financial terms of the agreement were not disclosed. The Turner South acquisition brings to 15 the total number of FCN owned-and-operated regional programming networks that together reach more than 80 million cable and satellite subscribers across 40 of America's 50 largest cities.

With the addition of Turner South's long-term local telecast rights to MLB's Atlanta Braves, NBA's Atlanta Hawks and the NHL's Atlanta Thrashers, FCN owned-and-operated regional networks are the primary local television partners to more than half (44) of all U.S.-based MLB, NBA and NHL franchises. Fox Cable Networks owned-and-operated regional networks are also America's most prolific producers of local events in high-definition television, providing approximately 500 MLB, NBA and NHL games in HD to hometown fans this year and still more going forward.

"Turner South represents a significant addition to our sports operations and Fox's unparalleled commitment to localism," says Tony Vinciquerra, president and chief executive officer at Fox Networks Group. "We are very pleased to add Turner South to our diverse portfolio of major programming services."

"This transaction is a win for Turner Broadcasting and for viewers of the Fox Cable Networks," said Phil Kent, chairman and CEO of TBS, Inc. "It creates significant financial return for our company, adds quality programming to Fox's portfolio and enhances the value for consumers of a popular cable service."

Turner Broadcasting System, Inc., a Time Warner company, is a major producer of news, entertainment and sports product around the world and a leading provider of programming to the basic cable industry.

Fox Cable Networks, a unit of the Fox Networks Group, includes 29 cable and satellite programming networks in which News Corporation (NYSE:NWS) holds interests. Together these networks reach nearly 400 million cable or satellite television homes, and represent one of the media industry's largest and most diverse groups of programming operations. Those networks and related video-on-demand or high-definition television services include FX, Fox Movie Channel, Fox Reality, FUEL TV, National Geographic Channel and the new NGC HD high-definition network. They also include FSN and the 15 owned-and-operated regional sports networks that serve as its core; Fox College Sports (Pacific, Central and Atlantic), SPEED, Fox Soccer Channel and Fox Sports en Espanol. FCN also manages Fox Sports Enterprises, which manages Fox interests in sports franchises like the Colorado Rockies, venues and leading statistical information provider, STATS.

Source: Business Wire

More News in this Category