Fox Sports May Jump Into Bidding for Los Angeles Dodgers

Nov 3, 2011  •  Post A Comment

"News Corp’s Fox Sports may participate in an auction for the bankrupt Los Angeles Dodgers baseball team, a person familiar with the company’s thinking said, writes Bloomberg.

Bloomberg went with the story despite also adding, "In a conference call to discuss the company’s earnings, News Corp. Chief Operating Officer Chase Carey said the company doesn’t plan to buy the team."

According to the article, "Fox planned to compare the price of renewing its current telecast contract with the cost of buying the team, said the person, who declined to be named because the deliberations are not public."

The story adds, "“If it comes down to paying $3 billion for telecast rights or $1 billion for the team, the math may mean you buy the team,” the person said. There are also drawbacks to owning a sports team, which the company experienced when they previously owned the Dodgers, the person said."

As the article notes, "News Corp. owned the team from 1998 until 2004, when it sold the club to current owner Frank McCourt for $421 million after locking up the TV rights until 2013."

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