Comcast Buys Rest of NECN
by Mike Farrell -- Multichannel News, 6/22/2009
Boston— Comcast said last Thursday (June 18) that it has acquired the remaining 50% interest it didn’t already own in New England Cable News from Hearst Corp., for an undisclosed sum.
NECN, the largest 24-hour regional news network with more than 3 million subscribers in all six New England states, was formed in 1992 as a joint venture between Hearst and Comcast’s predecessor in the area, Continental Cablevision. The deal appears to be in line with Hearst’s desire to unwind its partnerships.
NECN president and general manager Charles Kravetz will resign and be replaced by Comcast SportsNet New England vice president and general manager Bill Bridgen, who’ll oversee both networks.
