Comcast Acquires 50% Stake in NECN

Cable giant Comcast Corp. has bought out Hearst’s 50 percent stake in New England Cable News to take full control of the network.

Financial terms were not disclosed.

NECN launched in 1992 as a joint venture between Hearst and Comcast’s  predecessor cable operators in New England. Comcast’s regional programming operations now include three news and entertainment networks and 10 regional sports networks, including Comcast SportsNet New England.

“NECN is one of the leading sources for New England news and one of the most recognized regional cable networks in the nation, which makes it an attractive business operation,” said Jon Litner, who oversees local programming businesses as president of Comcast Sports Group.

“NECN will strengthen Comcast’s position as the leading source for news, sports and entertainment in New England.” Bill Bridgen, executive vp and general manager of Comcast SportsNet New England, will oversee both networks now.

Nielsen Business Media