07/08/2004 4:36 PM ET
Colorado Rockies and Fox Cable Networks announce limited partnership agreement
DENVER -- The Colorado Rockies announced today
the club has reached an agreement with Fox Sports Baseball Holdings, Inc., a subsidiary of Fox Cable Networks, to become a limited partner to the Club. Financial details of the limited partnership were not disclosed, and the
agreement is subject to approval by Major League Baseball.
"The agreement symbolizes Fox's belief in our organization, our process for building a winner on and off of the field and our long-term viability in this region," said Colorado Rockies Chairman, Charlie Monfort. "This is an
international company whose understanding of the business of baseball is coupled with passion, experience and resources that can help achieve our collective goals for this team and its fans."
"Fox has enormous faith in the future of Major League Baseball and the Rockies organization under Charlie Monfort's leadership," said Anthony Vinciquerra, President and Chief Executive Officer of Fox Networks Group, of
which Fox Cable Networks is a part. "The Rockies are one of the premiere sports franchises in the region, and we look forward to working even more closely together to expand their popularity."
"We've already made a substantial long-term investment in the Rocky Mountain region through FSN Rocky Mountain, and becoming a limited partner in the Rockies further exemplifies our local commitment," said Bob Thompson, president, Fox Sports Networks. "This further solidifies FSN Rocky Mountain as the premiere regional sports network serving all of Colorado and the entire Rocky
For Fox, the limited partnership agreement follows its January 2004 sale of the Los Angeles Dodgers, a team the Company acquired in 1999.
Fox has been involved with Major League Baseball since FOX Sports became a national regular- and postseason broadcast rightsholder in 1996, as well as through coverage of local games on regional sports cable networks such as
Denver-based Fox Sports Net Rocky Mountain. FSN Rocky Mountain has televised Rockies games since 1997. Through its owned-and-affiliated regional sports networks, FSN televises locally 25 of the 28 U.S.-based MLB
teams, producing close to 2500 games each season.
Fox Cable Networks joins seven other limited partners for the Colorado Rockies including: Charles K. Monfort; Richard L. Monfort; Linda Alvarado, Alvarado Construction; Clear Channel Communications; Coors Brewing Company;
Kirk MacDonald, Denver Newspaper Agency; Marne Obernauer, Sr. and Marne Obernauer, Jr. of Beverage Distributors Corp. Fox Cable Networks, a wholly owned division of Fox Entertainment Group (NYSE: FOX), includes more than 20
major domestic cable and satellite networks in which Fox Entertainment Group or News Corporation (NYSE: NWS) hold interests. Together these networks reach more than 335 million subscribing TV households and represent one of
the media industry's largest and most diversified groups of programming assets. FCN networks include FX, Fox Sports Net, National Geographic Channel, SPEED Channel, Fox Movie Channel, Fox Sports World, Fox College Sports, Fox Sports en Español and Fuel. Fox Cable Networks' Fox Sports
Enterprises unit manages Fox Entertainment Group's and News Corporation's non-television sports assets. Those include interests in the New York Knicks and Rangers, Madison Square Garden and Radio City Music Hall.