UPDATE: While the figures have yet to be confirmed, John Ourand of Sports Business Daily reports that the deal is for 25 years and $7 billion.
Original Story: The Los Angeles Dodgers and Time Warner Cable (TWC) have officially announced their new TV agreement, a deal that will lead to the launch of the SportsNet LA network, reports Bill Shaikin of the Los Angeles Times:
#Dodgers and Time Warner Cable officially announce TV deal.— Bill Shaikin (@BillShaikin) January 28, 2013
SportsNet LA is the working name for #Dodgers new television channel starting in 2014, per press release.— Bill Shaikin (@BillShaikin) January 28, 2013
The Dodgers' ownership group created American Media Productions, LLC (AMP) in December with the primary goal of launching a regional team network in the near-future. AMP has come up with SportsNet LA, which will launch prior to Opening Day in 2014.
TWC will be the main distributor for SportsNet LA, and will carry the network throughout Southern California and Hawaii as part of their long-term deal with the club. The deal is believed to be worth between $6-$7 billion, but no official numbers have been released as of yet.
The network will operate in a similar manner to the Yankees' and Mets' channels, making it the exclusive television home for all Dodgers games and the home for all variety of behind-the-scenes programming and analysis.
The deal is still awaiting final approval from Major League Baseball, who will need to resolve issues of revenue sharing, per Shaikin.