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CSN Houston Files for Bankruptcy

CSN Houston Files for Bankruptcy

In a stunning announcement yesterday, Comcast SportsNet Houston filed for chapter 11 bankruptcy.

The filing came as a big surprise to the network's largest owner, the Houston Astros.  The Astros own a 46% stake in the network, along with the Rockets and NBC/Universal.

Some believe the filing is the latest move in the fight CSN has waged with cable providers.  Currently the network is only available to 40% of Houston residents.  

The Houston Astros released this statement following the filing,

"Comcast has improperly filed an involuntary bankruptcy petition in an attempt to prevent the Astros from terminating the Media Rights Agreement between the Astros and Houston Regional Sports Network.  HRSN failed to pay the Astros media rights fees in July, August and September, and we have invested additional money in order to keep the network viable through our season. 

 

Despite not receiving our media rights fees, our objective has not changed.  We will continue to work toward obtaining full carriage so that all of our fans are able to watch the Astros games while making sure that the Astros are able to compete for championships."

 

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