Tuesday, 18 December, 2018

Amazon bidding on Fox's 22 regional sports networks

Amazon Ceo Jeff Bezos Walks on Stage at a Press Conference where He Introduced New Kindle Products Such As the Kindle Paperwhite Wi-fi + 3g the Kindle Fire Hd and New Programs and Innovations For the Wireless Tablets at Santa Monica Airport in Santa Monic CREDIT Michael Nelson Epa REX Shutterst
Guillermo Jimenez | 21 November, 2018, 01:08

Amazon has joined the bidding for the 22 regional sports networks now owned by 21st Century Fox that regulators are requiring Disney to sell off as part of its pending Fox acquisition, CNBC has reported.

Apollo Global Management, KKR, Blackstone Group, Sinclair Broadcast Group and TEGNA also made first round bids for all the networks, CNBC said, citing the sources.

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Thus far, though, there has been no sign that the threshold has been reached. The EU is due to hold a summit to discuss the draft deal on November 25.

For Disney, the clock is ticking on finding a buyer for the RSNs, which the company has to sell as part of conditions placed on its Fox acquisition by the Justice Department. The streamlined Fox, which includes FOX Business, Fox News and Fox Sports, could also emerge as a bidder when second-round bids are submitted later this year.

CNBC said it was unable to learn the amount of the bids. The Yankees themselves "are moving forward with plans to buy back the YES Network", Bloomberg reported last week.

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The incident prompted an immediate red flag and a delay of more than an hour before the race was restarted. He said: "I don't think I've ever seen anything like this".

Buying the RSNs could also put Amazon into some contentious negotiations with Comcast and other cable TV companies. Earlier this year, Amazon and the NFL signed a new two-year streaming rights deal for Thursday Night Football. The Yankees network was blacked out on Comcast during the 2016 season due to a money dispute, for example.

Disney hasn't quite completed its purchase of Fox properties, as it still needs approval from regulators in a few countries. "Today's settlement will ensure that sports programming competition is preserved in the local markets where Disney and FOX compete for cable and satellite distribution".

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A spokesperson for company said the decision will go into effect "in the coming days". Palestinians and their supporters had long lobbied Airbnb to delist the settlements.

In June, Barclays analyst Kannan Venkateshwar said Disney's agreement to sell off the RSNs could generate around $19 billion to $20 billion in value (assuming a 10x EBITDA multiple off approximately $2 billion EBITDA).

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