STO "close" to being sold.

[Stephen]

@Ourand_SBJ

Source: Fox Sports has closed on its deal to buy SportsTime Ohio in Cleveland. Announcement expected this morning. SBD will have the story.

@Ourand_SBJ

Source: Fox Sports is paying between $200-$250M for STO. Deal includes a long-term extension of the Indians' TV rights.

@Ourand_SBJ

TBD. Fox could wrap the Indians rights into FS Ohio, continue operating STO or set up FS Cleveland. RT @JoseThe5_9 Fox Sports Cleveland?

.

[Pyro]

Done deal.



http://www.foxsportsohio.com/12/28/1...61&feedID=4181

FIRE MANNING *clap clap clapclapclap* FIRE MANNING!!!

Bringing it over to the next page.

[Stephen]

FOX Sports purchases STO for an estimated $230 million; will pay Indians $400 million in rights fees over next 10 years

Published: Friday, December 28, 2012, 10:27 AM Updated: Friday, December 28, 2012, 10:55 AM
Paul Hoynes

CLEVELAND, Ohio -- FOX Sports has purchased SportsTime Ohio for an estimated $230 million. The purchase gives Fox an estimated 10-year deal to broadcast Indians games worth an estimated $400 million.

FOX will pay the Indians about $40 million in rights fees per season to broadcast their games. STO was paying the Indians an estimated $30 million a year in right fees.

The Dolan family, which owns the Indians, created STO to carry Indians games in 2006. Before that, Indians games had been broadcast on Fox Sports networks from 1998 through 2005.

The influx of money is part of the reason that Indians were able to come to terms last week with free agent outfielder Nick Swisher on a four-year, $56 million deal. All MLB teams will receive an estimated $24 million to $25 million a year in national cable TV revenue in 2014 through 2021.

Whether or not FOX will operate in Ohio with two regional sports networks or one will be determined in the new year.

The Indians rights fees are expected to increase from $30 million to $40 million.

It was important for the deal to get done before the new year become of impending changes in the tax laws.

The purchase would make Fox the dominant sports programmer in Ohio. Fox Sports Ohio currently carries the Cavs, Cincinnati Reds, NHL Columbus Blue Jackets, Columbus Crew soccer, Lake Erie Monsters and the University of Cincinnati and Dayton.

.

[JMcCurry08]

We are getting 25 million a year, I expect us to be players in FA every year now.

[Stephen]

We are getting 25 million a year, I expect us to be players in FA every year now.

Don't...

Fool's errand.

[JMcCurry08]

Don't...

Fool's errand.

True, but did that revenue money help us land Swisher?

[Stephen]

True, but did that revenue money help us land Swisher?

Maybe, but what we don't know is how much more they're making from FSO than they were from STO.

Either way, Cleveland is never going to be a major player on the free agent circuit.

Even teams like San Diego are making $70 million a year on TV revenue, the Indians are still way behind in that regard but the fact of the matter is free agents just don't go to Cleveland.

It's a below average place to play and locked in a small market.

[Huber.]

So what does this mean for STO? I do enjoy the Browns coverage in the summer when I actually care about the team.

[ticon12389]

Done deal.



http://www.foxsportsohio.com/12/28/1...61&feedID=4181

FIRE MANNING *clap clap clapclapclap* FIRE MANNING!!!

Manning's prick attitude is sometimes the most entertaining part of watching an Indians game

[KB]

Maybe, but what we don't know is how much more they're making from FSO than they were from STO.

Either way, Cleveland is never going to be a major player on the free agent circuit.

Even teams like San Diego are making $70 million a year on TV revenue, the Indians are still way behind in that regard but the fact of the matter is free agents just don't go to Cleveland.

It's a below average place to play and locked in a small market.

I could be wrong but I read they got 230$ mil for STO and 430$ mil for the rights to Tribe games over the next 10 years...

So averaged over the next 10 years that would be roughly 63$mil a year from the sale if those figures were correct...if it's all put into the team...which is probably not a realistic expectation.

[Stephen]

TV deal with Fox means windfall for Indians
By Dayn Perry | Blogger
December 28, 2012 1:22 pm ET

Fox has purchased SportsTime Ohio, the television network that carries Indians games, from team owner Larry Dolan. The Sports Business Journal puts the purchase sale price "in the $250 million range." Additionally, Maury Brown of BizofBaseball.com notes that going forward the Indians will receive $30-40 million per year in media-rights fees.

While this can't compare to, say, the more than a quarter-of-a-billion dollars per year that the Dodgers figure to fetch once they negotiate a new local-television contract, it does constitute a nice windfall for Cleveland, which, it should be noted, could very much use a nice windfall.

Consider this one more data point in MLB's changing local-television landscape.

The final number is going to be closer to $40 million and will escalate over the life of the contract according to the ABJ.

Also of note, is that NewsCorp's shares went down 1.1 percent today after the announcement of the sale.

[Huber.]

I guess Indians games will still be on STO this year. So anyone have any updates on what changes will be made?

[The Voice]

I guess Indians games will still be on STO this year. So anyone have any updates on what changes will be made?

It's relatively unknown. They're keeping them separate for now, but want to combine them once their lease is up with channel 3. A lot of
uncertainty is there.

Can't wait for Boobie to come in and say I have no clue what I'm talking about.

[JMcCurry08]

Bruce Drennan re-signed with Fox Sports

Andre Knott will host Sunday All Bets Are Off

Gene is working on re-signing with Fox Sports

[Pyro]

Come on FOX, get rid of Matt and Rick. It's not too late.