Word: cstv
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Both Harvard hockey teams will play at least one game on national television this season, as part of Friday Night Hockey on College Sports Television (CSTV...
Today Bedol, 44, is again pushing ignored goods, as a co-founder and the president of College Sports Television (CSTV), the only 24-hour network devoted solely to college athletics. Major broadcast networks, as well as cable outlets like ESPN and Fox Sports Net, already have dibs on big-conference basketball and football. So CSTV, which went on air in April, will field a second-string lineup of college sports, including basketball and football from conferences such as the Horizon League (Butler, Detroit Mercy, Youngstown State), plus track, baseball, soccer, lacrosse, volleyball and--yes--squash. CSTV joins several niche sports...
...CSTV has the cash to give it a go. Bedol and co-founders Steve Greenberg (who helped start Classic Sports) and Chris Bevilacqua (who has negotiated TV deals for Nike) started pitching the concept to athletic conferences and cable operators two years ago. Last spring Bedol, Greenberg and Allen & Co., a New York City investment bank (and Greenberg's employer), put up $10 million. In a viewer survey last fall by a big cable operator naming 40 new or proposed channels, CSTV ranked...
Thus armed, CSTV has secured an additional $90 million, including investments from Constellation Ventures, (a Bear Stearns fund), football legend Joe Namath and Athlon Ventures, a fund whose participants include NBA star Kevin Garnett and Olympic sprinter Michael Johnson. Coca-Cola is in for $10 million, plus a $5 million marketing partnership. For programming, among other deals, CSTV has bought national rights to all sports other than basketball and football from Notre Dame, which has millions of fans. DirecTV, the satellite operator recently acquired (from GM's Hughes Electronics) by Rupert Murdoch's News Corp., has agreed to place CSTV...