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Saturday, March 19, 2011

Time Warner Cable, Comcast may nix Mets' SNY sale-WSJ, (NYSE: TWC), (NASDAQ: CMCSA)

Time Warner Cable Inc. (TWC.N) and Comcast Corp. (CMCSA.O) may block the New York Mets' owners from selling their stake in SportsNet New York (SNY), a jointly owned regional cable channel, the Wall Street Journal reported on Saturday. Fred Wilpon and Saul Katz, owners of the baseball franchise, want to sell a minority stake in SportsNet to help cover their costs for the next two seasons. If their partners refused, it would complicate the sale, the Journal said. The Mets owners are trying to raise roughly $200 million by selling a stake in SNY. A Comcast spokesman declined to comment on the story, the Journal said.