Primco to Acquire Interest in Basketball ChannelTuesday, August 20, 2013
Primco Management Inc. on Tuesday said that it has agreed to acquire a 20 percent equity ownership in the Basketball Channel, a digital broadcaster of sports programming.
Primco, a Century City entertainment and real estate development company did not provide financial terms, but said the deal includes an option to increase its stake in the Westlake Village media company to 51 percent in the future.
The Basketball Channel shows professional, pro-am, student and charity games, and also features sports news and lifestyle shows. Primco and Basketball Channel intend to create a joint venture to market and distribute both Primco’s EatSleepSports.tv content and Basketball Channel’s original and archival footage.
“Our shared passion for sports, in particular basketball, will drive us to bring better coverage of the sport, which we are convinced is presently underserved at the college, pro-am and international levels,” David Michery, Primco chief executive, said in a statement.