Comcast Corp. announced today it has reached an agreement to purchase Ed Snider’s 24 percent stake in Comcast Spectacor. The sale is expected to close next month and will transfer the Wells Fargo Center in Philadelphia, Spectra and the Philadelphia Flyers over to the cable giant. The sale of the Flyers has to be approved by the National Hockey League’s Board of Governors, which is expected to consider the matter tomorrow. Snider passed away in April after a long battle with cancer.
Dave Scott will continue to serve as CEO for Comcast-Spectacor and Paul Holmgren and Ron Hextall will remain as President and General Manager.
“John Page has done a terrific job as President of the Wells Fargo Center, one of the premier venues in the country that’s celebrating its 20th year, and will continue in that role,” according to a statement from Brian L. Roberts, Chairman and CEO of Comcast Corporation.