Liberty invests in Colo. sports plex

NEW YORK — Civic pride came to the fore Wednesday when John Malone’s Denver-based Liberty Media agreed to invest $15 million in the Pepsi Center, a new arena to be built by 1999 to house the Colorado Avalanche pro hockey team and the pro basketball Denver Nuggets.

As part of Liberty’s $15 million investment, the two pro teams have signed a seven-year agreement that kicks off in the 1997-98 season and gives exclusive over-the-air and cable-TV rights to Fox Sports Rocky Mountain, the regional sports network jointly owned by Malone and Rupert Murdoch. The contract calls for the taping of 65 regular-season games of each team during the season, plus “all available playoff games.”

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