Dodgers will not sell media rights beyond 2013.
Jan 11 (Reuters) – Los Angeles Dodgers will not market its media rights beyond 2013 as part of lawsuit settlement with Fox Sports, according to papers filed in a U.S. bankruptcy court.
Fox, a unit of News Corp, had persuaded a judge to temporarily halt the team’s plan to sell the media rights to games starting in 2014 – rights that were expected to be worth billions.
“Under the terms of the settlement, Fox’s media rights remain in place and we look forward to working with new ownership on future television rights discussions,” Fox Sports said.
The Dodgers, which have been in bankruptcy since June, wanted to sell the rights to future games as a way to boost the value of the team before it goes up for sale on Jan. 23.
“This consensual resolution of all disputes between the Debtors and Fox will enable the sale of the Dodgers to proceed forward, free of any uncertainty relating to the various issues under dispute, with the continued objective of maximizing value for the Debtors and their estates,” the Dodgers said in a statement.
The bankruptcy case is In re: Los Angeles Dodgers LLC, U.S. Bankruptcy Court, District of Delaware, No. 11-12010
UPDATE 1-Fox Sports, LA Dodgers reach settlement | Reuters: