Comcast Buys Snider’s Stake In Comcast Spectacor

Snider, the founder of the Philadelphia Flyers and chairman of its parent company, Comcast Spectacor, died in April.

With the purchase, Comcast now owns 100 percent of the company.

The transaction related to the Flyers is subject to the approval of the National Hockey League, which was prepared to meet Sept. 23. Comcast has had majority ownership in Comcast Spectacor since 1996 and, through it, the Flyers, the team’s home court of Wells Fargo Center, and the Spectra facility management company.

“Ed was a visionary in the sports and entertainment industry and is deeply missed,” said Brian Roberts, chairman and CEO of Comcast Corporation. “He planned for this transition and, thanks to his thoughtful approach on succession, Comcast Spectacor is in a strong position. I’m very excited we are able to carry his spirit with us by bringing the company, its leadership and its thousands of employees fully into the Comcast family.”