Analysis: The last act in Disney’s deal-drama looks as good for Sinclair as it is disappointing for Disney
The 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 Inc., according to reporting from The Wall Street Journal. The deal looks as good for Sinclair as it is disappointing for Disney.
The Justice Department required Disney, which is already the majority owner of ESPN, to sell the sports networks to avoid having too much market power in athletic entertainment. The 22 channels...
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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.
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