Walt Disney Co said on Friday it would sell its interests in 21 regional sports ...
- Walt Disney Co said on Friday it would sell its interests in 21 regional sports networks and Fox College Sports to Sinclair Broadcast Group Inc for $9.6 billion, a deal that clears the way for its purchase of Twenty-First Century Fox Inc’s film and television assets.
The deal will help Sinclair, the largest U.S. broadcast station owner, add channels such as Fox Sports Detroit and Fox Sports Florida to its existing sports business that includes Marquee Sports Network and Ring of Honor Wrestling. The company said Byron Allen, CEO of Entertainment Studios, will serve as an equity and content partner in a newly formed indirect wholly-owned unit of Sinclair and an indirect parent of Diamond.
“The news could bring some closure to Disney’s pending obligations regarding the consent decree, while the company continues to take steps to fortify ESPN amid a paradigm shift to direct-to-consumer offerings,” CFRA analyst Tuna Amobi wrote after the Wall Street Journal first reported about the impending deal.The regional sports networks portfolio delivered a combined $3.8 billion in revenue across 74 million subscribers in 2018, the companies said.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sinclair Broadcast Group is buying 21 regional sports networks from Disney for $9.6 billionWalt Disney Co., which inherited the channels as part of its $71 billion deal for much of 21st Century Fox, had hoped to recoup as much as $20 billion for the regional sports networks, including Prime Ticket and Fox Sports West in LA. But a frenzied bidding war failed to materialize.
Weiterlesen »
Sinclair to buy 21 regional sports networks from Disney for $9.6 billionSinclair CEO Chris Ripley said in a statement that the deal will help the company focus on providing stronger premium sports programming.
Weiterlesen »
Disney, Sinclair have $10.6 billion deal for 21 regional sports networksSinclair Broadcast Group will get 21 regional sports networks in markets such as Detroit, LA and Miami from Disney in a deal valued at $10.6 billion.
Weiterlesen »
Sinclair to purchase 21 regional sports networks from DisneySinclair Broadcast Group will purchase 21 regional sports networks from the Walt Disney Company for $9.6 billion, the two companies announced Friday.
Weiterlesen »
Sinclair to buy 21 regional sports networks from Disney at $10.6 billion valuationStocks rose Friday as data showed U.S. job creation was stronger than expected in April.
Weiterlesen »
Disney is selling 21 regional sports networks to Sinclair in a $10.6 billion dealDisney was required to sell the networks to receive approval for its $71 billion acquisition of Fox's assets.
Weiterlesen »
Sinclair Broadcast Group is buying 21 regional sports networks from DisneyWalt Disney Co., which inherited the channels as part of its $71 billion deal for much of 21st Century Fox, had hoped to recoup as much as $20 billion for the regional sports networks, including Prime Ticket and Fox Sports West in LA. But a frenzied bidding war failed to materialize.
Weiterlesen »
4 Takeaways From Sinclair's Acquisition Of Fox Regional Sports Networks From DisneyAfter government regulators prevented Sinclair from acquiring Tribune last year, with its reported acquisition of 21 regional sports networks for $10 billion, it is rapidly moving into local sports.
Weiterlesen »
Why Disney Took a Big Haircut on SportsThe last act in Disney’s deal drama has been its search for a buyer of the 22 regional sports networks it acquired as part of its takeover of 21st Century Fox. The lucky winner is Sinclair Broadcast Group, and the deal looks as good for Sinclair as it is disappointing for Disney.
Weiterlesen »