“I fundamentally believe that sports rights will be valuable for the foreseeable future and will continue to increase in value,” Ripley said of the $10.6 billion deal.
“We will become the preeminent local news and sports provider in the country,” said Sinclair Broadcast Group CEO Chris Ripley. By Ben Strauss Ben Strauss Sports and media reporter Email Bio Follow May 6 at 9:17 AM Sinclair Broadcast Group expanded its media holdings in two dramatic ways when it announced Friday that it was buying 21 regional sports networks from Disney for $10.6 billion: sports and cable TV.
Ripley added, “The current marketplace is getting flooded by big tech — Netflix and Amazon — on the general entertainment side. That’s a problem for anyone who wants to make money. We didn’t want to go up against an 800-pound gorilla with unlimited cash.” SportsNet LA, which shows Dodgers games in Los Angeles, is not available in many homes in Los Angeles. Comcast did not carry the YES Network, which airs New York Yankees games, in 2016.
What the channels do have is exclusivity, which Ripley emphasized. If St. Louis Cardinals fans wants to watch the Cardinals or Detroit Tigers fans want to watch the Tigers, they now have to go Sinclair. Sinclair’s push into sports has been in the works for several years. The network is in the process of finalizing a $3.5 billion deal that would make it a part-owner of the YES Network, according to a person with knowledge of the deliberations. YES was also part of the Disney-Fox deal. Other partners in that sale include the Yankees and Amazon. Sinclair also owns the Tennis Channel and has a stake in Stadium, a sports network that is available on broadcast TV and digitally.
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