Sinclair Closes $10.6 Billion Deal for Fox Regional Sports Networks

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Entertainment Studios’ Byron Allen is an equity and content partner in the RSN’s holding company.

TV station giant Sinclair Broadcast Group has completed its $10.6 billion deal to acquire 21 regional Fox Sports networks that Walt Disney agreed to sell to get regulatory approval for its $71.3 billion acquisition of large parts of 21st Century Fox.

After adjusting for minority interests, Sinclair said the aggregate purchase price for the RSNs is $9.6 billion. Sinclair picked up the sport network properties via a newly formed, indirect wholly owned subsidiary called Diamond Sports Group, in which Entertainment Studios CEO Byron Allen becomes an equity and content partner.

The acquisition will make Sinclair, based in the Baltimore, Maryland, and a major provider of news, a big player in sports cable programming.

READ MORE  HERE  AT HollywoodReporter.com

Published on August 26, 2019 at 10:10 am by mikedup

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