Time Warner Cable Inc said on Monday it will carry the new Los Angeles Dodgers television channel, outbidding Fox Sports, which held the rights to show Dodgers games for more than a decade.The Dodgers ownership group will control the channel, becoming the latest sports franchise to own all or part of its own regional sports network, ensuring ongoing television profits in addition to the lucrative revenue from cable operators.Terms of the deal were not disclosed. The Los Angeles Times had reported the deal could be worth between $7 billion to $8 billion over more than 20 years. It's the latest in a string of expensive contracts for the rights to carry popular sports events.Regional sports channels broadcast games from teams that ESPN and other national sports networks do not always carry. The scramble for regional sports rights reflects the broader competition in the national and international sports markets as well.
Shares of TWC traded higher by 0.1% or $0.1/share to $100.70. In the past year, the shares have traded as low as $72.76 and as high as $102.00. On average, 1778120 shares of TWC exchange hands on a given day and today's volume is recorded at 244851.
Time Warner Inc. (Time Warner) is a media and entertainment company. Shares of TWX fell by 0.24% or $-0.12/share to $50.28. In the past year, the shares have traded as low as $33.62 and as high as $51.29. On average, 6189180 shares of TWX exchange hands on a given day and today's volume is recorded at 918140.
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