When Disney bought up a large chuck of Fox, it included the Fox Regional Sports Networks.
The DOJ told Disney that they had to spin off the Fox Sports nets. It now appears that Disney has found a buyer for the sports nets and it is Sinclair.
Sinclair has been licking its wounds after the FCC torpedoed their deal to buy Tribune and this appears to be plan B.
Don’t be surprised if the deal goes through, that you will see more than just sports on the sports networks.
FOX Business Network’s Charlie Gasparino reports Sinclair “ will pay up to $10 billion” for the sports nets. Much more than the $4billion they were looking to pay in the Tribune deal.
Gasparino adds that the deal is not done yet, but the two sides have an agreement.