Monumental Sports & Entertainment (MSE) and Comcast Corporation announced an agreement that will see MSE acquire 100% of the equity interests in NBC Sports Washington.
To do this, MSE will purchase NBCUniversal's 67% stake in the network. At the moment, the company owns 33% of NBC Sports Washington, which it acquired in 2016.
NBC Sports Washington holds exclusive local television rights for Washington Wizards and Washington Capitals games.
The network is available throughout the District of Columbia, Maryland and Virginia, along with areas of Pennsylvania, Delaware and West Virginia.
MSE President of Media and New Enterprises Zach Leonsis said: "We at Monumental Sports & Entertainment are incredibly excited to have reached an agreement to acquire NBC Sports Washington, an important business for our current and future core business operations.
"Comcast NBCUniversal has built a strong regional sports network in NBC Sports Washington. We look forward to further enhancing and innovating on the already best-in-class experience that our fanbase enjoys of watching live sports, for years to come."
Since its launch as Home Team Sports in April 1984, the network served as the NHL's Capitals and NBA's Wizards regional TV partner.
NBCUniversal will continue to assist in operating the network by providing corporate and shared services. This includes distribution, technical resources and production facilities, for up to 18 months.
NBC Sports Regional Networks President Bill Bridgen commented: "Monumental Sports & Entertainment's interest in full ownership of the network is a unique opportunity.
"Their leaders have been engaged and collaborative partners in NBC Sports Washington who, like us, value local sports media and are committed to serving fans now and investing in the future. We look forward to continuing our work with them during the transition to support the network's continued growth and success."
MSE's platform covers five professional sports teams including the Washington Capitals, the Washington Wizards, the Washington Mystics, the Capital City Go-Go and the NBA 2K League's Wizards District Gaming.
