Fox Won’t Bid On Any Of The Regional Sports Networks Headed To Disney
In an SEC filing, 21st Century Fox has confirmed it will not bid on any of its regional sports networks that are being taken on by Disney as part of the acquisition of Fox assets and then sold off again per a regulatory agreement.
Negotiations have been vibrant for the portfolio of networks, whose value has been ballparked at $15 billion to $20 billion. The New York Yankees, which have rights of first refusal for YES, the jewel of the RSN group, are reported to be in discussions for a deal involving Amazon as a streaming partner.
The timing of the overall Disney-Fox deal will influence the timeline of the RSN selloff. Regulators are continuing to review the $71.3 billion merger, which the companies have projected will close in early 2019.
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