Fox Looking To Buy Back Regionals Sports Networks From Disney
When Disney got permission from the Justice Department to purchase 21st Century Fox, one of the conditions was that the 22 regional sports networks would have to be sold off, since Disney own ESPN and would have too much control over sports programming.
It’s being reported by CNBC that the new “Fox” is likely to buy back those sports networks and they are likely to get them for less than their estimated value of $20 Billion.
The Sports Business Journal is also reporting that Disney has only recently been looking for a deal. The Disney-Fox deal is expected to be finalised in just a few weeks, but they have 90 days to sell the sports networks and can be given another 90 days extension from the Department of Justice if required.
The new “Fox” would be able to incorporate the 22 regional sports networks into its sports channels FS1 and FS2.
However there could be other broadcasters after the sports networks including Comcast, Turner, CBS or Sinclair.
What’s clear is Disney have to sell these regional sports networks and the other companies know this.