A bankruptcy judge on Thursday approved a restructuring plan that will hand control of ComcastSportsNet Houston, a regional sports network, to DirecTV and AT&T Inc., the Wall Street Journal reported on Saturday. The plan, which Judge Marvin Isgur approved over the objections of Comcast Corp., will shut down the network and then relaunch it under the name Root Sports Houston. Comcast, through subsidiaries, owns about 23 percent of CSN Houston, which broadcasts games for Major League Baseball’s Houston Astros and the National Basketball Association’s Houston Rockets. The Astros own about 46 percent of the channel and the Rockets own 30 percent. Comcast is owed more than $100 million stemming from funding it provided to create the network. During the hearing, Craig Goldblatt, a lawyer representing Comcast, said the restructuring plan “jumps through a series of hoops” to deprive Comcast of its right to be repaid. Under the plan, Comcast will receive the proceeds of the sale of the network’s assets, for which the Astros and Rockets have agreed to place an initial $26.2 million bid. “Comcast’s economic recovery here is better than if we don’t confirm the plan,” Judge Isgur said as he gave his ruling from the bench. “A denial of confirmation results in liquidation.”
