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Comcast to buy Ed Snider's stake in Comcast Spectacor

ComcastCorp. reached an agreement to acquire Philadelphia Flyers' founderand Comcast Spectacor Chairman Ed Snider's 24% stake in Comcast Spectacorfollowing his death.

Comcast will own 100% of Comcast Spectacor after it closesthe deal. The stake in the company includes the Wells Fargo Center, Spectrabusinesses and the National Hockey League's Philadelphia Flyers. The threeoutfits will continue to operate as businesses within Comcast Spectacor afterthe acquisition.

The Flyers transaction is subject to approval by theNational Hockey League. The matter will be considered at NHL's board ofgovernors' meeting scheduled for Sept. 23.

The financial details of the deal, which is expected toclose in October, were not disclosed.