Giant Deal Will Create a Giant Sports Client
Steve’s breakdown: There are 19 regional cable sports networks that Disney would have to sell after they buy Fox. That’s the birth of a new sports client and you might as well be ready to jump on the team.
LOS ANGELES, CA: The Walt Disney Company received its biggest boost yet in its quest to beat out Comcast for the right to purchase 21st Century Fox: the Justice Department has conditionally approved Disney’s deal for Fox. (Adweek)
The DOJ said Disney must sell Fox’s regional sports networks as those, coupled with ESPN, could form a monopoly in sports broadcasting. (THR)
The deal, worth $71.3 billion, does not include the nationally broadcast Fox News, Fox Business or Fox Sports networks. (HuffPost / Reuters)
Comcast is expected to respond with yet another offer, amid reports it is reaching out to potential acquisition partners if the bidding should climb as high as $90 billion. Analysts have speculated the Fox assets could fetch as much as $42-$43 a share. (Variety)