(RUMOR) - Comcast to Buy TechTV?Full Article as reported by James Hibberd @ TVweek.com
Comcast Communications is nearing an agreement to purchase TechTV for nearly $300 million, sources familiar with the deal said Friday. The cable operator plans to merge the network with its struggling video game channel G4. Representatives for Comcast and G4 declined comment. A TechTV spokesperson said, "We cant divulge anything right now and were being true to the process. We anticipate an announcement before the end of the year." One source said Sony Pictures Entertainment, which reportedly has been in negotiations for the network, was the closest runner-up in the bidding. Several other bidders were in the running as recently as this fall. After billionaire and philanthropist Paul Allen put a "for sale" sign on the network, the Greenbridge Group in Connecticut, representing Mr. Allens Vulcan Inc., received at least four bids (TelevisionWeek, Sept. 22). If TechTV and G4 are combined, it is unclear what the channel will be called. One source said TechTV owner Mr. Allen may tap former UPN Chief Operating Officer Adam Ware to run the combined network under Comcast. Mr. Ware was reportedly in talks with Mr. Allen last year to run TechTV.