Dodgers land TV deal

The Los Angeles Dodgers formally announced a deal with Time Warner Cable on Monday to create a new TV channel that people familiar with the situation say assures the team more than $7 billion over 25 years. That is double what Major League Baseball thought the local TV rights were worth when the team was sold out of bankruptcy last year. The gap will be the subject of discussions going forward as the league attempts to haggle over how much of that extra money will go into a revenue-sharing pool to help out baseball’s lower-revenue franchises.

Associated Press