Fox, Dodgers statements on judge’s ruling
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Fox Sports and the Dodgers have issued statements in response to Thursday’s ruling by U.S. Bankruptcy Judge Kevin Gross, which lets the Dodgers sell their television rights along with the team -- and ahead of a schedule prescribed under the team’s contract with Fox.
‘I am satisfied the proposed modifications are not material,’ Gross said.
Statement from the Dodgers:
‘We are extremely gratified that Judge Gross decided today to grant the debtors’ amended telecast rights marketing motion. This advances the process of maximizing the value of the debtors’ estates. As established repeatedly today in Court, including through testimony of witnesses presented by Fox, the telecast rights are one of the Dodgers’ primary assets and have enormous long-term value.
‘The amended telecast rights marketing procedures will enable the Dodgers to establish a specific revenue stream and enable prospective owners to have greater visibility concerning the value of the telecast rights. This critical information will make clear the enhanced value of the Dodgers and we expect that this will result in a purchase transaction of the Dodgers that will maximize the value of the debtors’ estates and achieve maximum long-term return success of the Dodgers.’
Statement from Fox Sports:
‘While we are disappointed in the judge’s decision, we understand the court process and will appeal this decision to protect our contractual rights. Those rights are material and valuable, and the current owner accepted them as binding when he purchased the team in 2004.’
-- Bill Shaikin