We may be hearing by the end of the week that Sinclair Broadcast is set to take over the 21 regional Fox Sports Networks.
Shedding those networks was condition for Disney‘s takeover of 21st Century Fox‘s entertainment division.
Fox Business reports that Sinclair’s bid for the networks was in the $10 billion range, well below the $20 billion Disney and its investment bankers hoped to score.
Which would indicate that rival bidders Liberty Media and the Big3 Basketball league valued the Fox sports nets were worth even less.
Since botching the Tribune buy, Sinclair has set its sights on sports operations, securing a partnership with the Chicago Cubs to set up a cable outlet for the club, and its ownership of professional wrestling’s Ring of Honor, 2016 acquisition of the Tennis Channel and involvement in the Stadium sports streaming partnership.
Sinclair grows and manages to avoid FCC scrutiny.