Disney has a new plan for its 22 Fox regional sports networks after its attempt to sell the whole batch to the highest bidder ran into complications. The New York Post reports that the company has decided instead to break them up and sell them piecemeal.
“Bankers for Disney had hoped to sell the 22 regional sports networks, or RSNs, to a single buyer in a deal to address antitrust concerns over Disney’s pending $71.3 billion merger with Fox, sources said,” The Post reports. “A single deal would have made regulatory approvals simpler and quicker — a pressing concern given that the RSNs must be sold within 90 days of Disney’s closing on its Fox deal.”
The report cites sources saying the bankers are now holding meetings with multiple potential buyers, including those who are interested in just a single RSN.
The Post adds: “Sinclair Broadcasting, in partnership with private equity firm CVC Capital Partners, is the only known serious party that has made an offer for all the RSNs — but sources said it was a lowball bid.”