Los Angeles Dodgers Statement with Regards to its Telecast Rights and Fox
LOS ANGELES, Dec. 15, 2011 /PRNewswire/ -- The Los Angeles Dodgers today stated that "as the media has been reporting, the market for telecast rights is vibrant. For potential new owners, those rights not only assure a steady and substantial revenue stream, but also enhance a team's brand appeal and, ultimately, its competitiveness on the field.
Moreover, the formal opinion issued today by Judge Gross expands on his order approving the debtors' amended telecast marketing rights motion enabling the Dodgers to move forward with the process to unlock the full potential value of one of the debtors' primary assets. This process will also enhance the debtors' ability to achieve a sales transaction of the Dodgers that will maximize the value of the debtors' estate for the benefit of all parties."
The Dodgers further said that, in response to Fox's attempt to seek from the District Court a stay pending appeal of Judge Gross' order, it has filed a letter with that court in which it makes clear that Fox's request for an immediate stay should be denied, including that it is "… nothing more than an attempt to delay, and by doing so, derail, the carefully crafted marketing procedures approved by the Bankruptcy Court."
Robert Siegfried/Lyndsey Estin/Stef Goodsell
Kekst and Company
SOURCE Los Angeles Dodgers