It Could Be Pure Murdoch Magic!

Rupert could pull off amazing coup: Buying Fox regional sports networks back from Disney at a discount of billions

  • “New Fox,” the company that will exist after Disney completes its $71.3 billion deal for the majority of Fox, may end up buying back 22 regional sports networks from Disney.
  • The deal could be another coup for Rupert Murdoch, who may end up making billions by buying back the networks.
  • Netflix recently praised New Fox for its renewed focus on news and sports; a purchase of the regional sports networks would fit that strategy.

Oct. 26 2018

'New Fox' leading contender to buy sports networks it sold to Disney

‘New Fox’ leading contender to buy regional sports networks it sold to Disney  
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The front-runner to buy 22 regional sports TV networks from Disney is the same company that sold them in the first place.

“New Fox,” the company that will remain after Rupert Murdoch sells $71.3 billion worth of 21st Century Fox assets to Disney, is the leading contender to buy back the RSNs it “sold” to Disney as part of the larger transaction, according to people familiar with the matter. Those networks broadcast the games of 44 professional teams from Major League Baseball, the National Basketball Association and the National Hockey League

Formal offers haven’t come in yet. As Sports Business Daily reported, Disney only recently sent out its bid book to prospective buyers.

But people familiar with the process, who asked not to be named because the negotiations are private, say New Fox is the most serious buyer for all the networks. That’s a cleaner outcome for Disney than selling the networks piecemeal, which would bring in smaller buyers and private equity firms.

READ THE REST OF THE STORY  HERE  AT THE CNBC WEBSITE

Published on October 26, 2018 at 2:52 pm by mikedup

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