The nation’s first 24-hour college sports network is getting off the ground with $100 million backing from several prominent Wall Streeters.
The co-founders of Classic Sports Network, now ESPN Classic, have launched National College Sports Network (NCSN) with a plan to start airing in the first quarter of 2003.
The founders are pinning their business plan on the passions of more than 50 million fans of college sports fans – and the fact many of today’s leaders, from the White House to boardrooms, were college jocks.
“How many decision-makers are still reliving their big game from college, and still keep their old college rivalries alive?” said Brian Bedol, a co-founder of Classic Sports Network with Steve Greenberg, son of baseball great Hank Greenberg.
Bedol said his group has already signed up 12 college conferences to participate and is in talks with another 20.
Bedol said discussions are underway with leading satellite and cable operators to carry the programming, and that deals are expected in about 90 days.
Some industry sources say the venture will probably receive a good reception from advertisers and broadcasters.
“Only a handful of college games are televised on cable and broadcast TV,” said one industry source. “The big college plum is NCAA’s basketball tournaments and the Final Four. Of about 65 other championship games in other sports, only about 15 are aired by ESPN, and about 45 get no TV at all. Then, there’s all the conference level championships.”
The new network also plans to fill in its 24-hour format with secondary content made by college hot-shots, ranging from interviews with jocks and coaches to documentaries on some of the long-running college rivalries.
“We’re going to be an incubator for some of the aspiring talent in college broadcasting and journalism to hone their skills,” said Bedol.
It’s also a way to get inexpensively made content with youth appeal, as well as create additional sponsorships.
Bedol and Greenberg sold their Classic Sports Network to ESPN for $185 million. Greenberg, who’s a managing partner at investment firm Allen & Co., and Bedol were joined in the new venture by former Nike executive Chris Bevilacqua.
