Sinclair Broadcast Group has agreed to buy 21 regional sports networks from Walt Disney Co. for $9.6 billion, accelerating the Maryland company’s push into major television markets.
from Liberty Media Corp., Major League Baseball and Big3, an upstart basketball league run by the rapper-actor Ice Cube and Hollywood businessman Jeff Kwatinetz.
Despite the sale of major assets to Disney, Rupert Murdoch and his family haven’t entirely exited the TV industry. Their slimmed-down holdings, now called Fox Corp., include Fox News Channel, Fox Business Network, two national sports channels, FS1 and FS2, as well as the Fox Broadcasting network. Fox also held on to its chain of TV stations, including KTTV Channel 11 and KCOP Channel 13 in Los Angeles.
Sinclair’s deal is for 21 of the 22 Fox regional sports networks and the Fox College Sports channel. The channels are expected to be rebranded.The crown jewel, YES, which is home to New York Yankees broadcasts, reportedly is being purchased by Sinclair, Amazon.com Inc., the Yankees organization and private equity firm Blackstone Group for about $3.5 billion.
Sinclair, which has its headquarters in the Baltimore suburb of Hunt Valley, Md., announced in February that it was
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Sinclair Broadcast Group is buying 21 regional sports networks from DisneyWalt Disney Co., which inherited the channels as part of its $71 billion deal for much of 21st Century Fox, had hoped to recoup as much as $20 billion for the regional sports networks, including Prime Ticket and Fox Sports West in LA. But a frenzied bidding war failed to materialize.
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