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Major League Baseball (MLB) has reportedly teamed up with Formula One owners Liberty Media to buy the remaining 21 regional sports networks (RSN) being sold by Disney as part of its Fox takeover.
Liberty Media, which formed part of the early building block to Fox’s sports empire during the 1990s, has apparently made a joint offer with the professional baseball organisation, as Disney closes its final round of bidding for the sought-after networks.
During an investors call in February, Liberty Media chief executive Greg Maffei confirmed that the company would examine whether the RSNs could form a “long-term investment”, hinting that Liberty’s input during their creation could put the company in good stead.
He said: “Where that investment would be done … really depends on the scope and size and who our partners are and how that turns out.
“We are approaching them with appropriate caution and appropriate wide-eyed certainty and understanding that, [while] we formed a lot of these things with Fox a long time ago, we have a lot of history with them and understand those businesses well.”
The RSNs, which are apparently valued in the region of US$10 billion, form the final pieces to Disney’s US$71.3 billion acquisition of Fox assets, which was completed on 19th March – 15 months after the deal was set in motion in December 2017.
However, Disney, which already owns the ESPN sports network, still has to offload Fox’s sports channels to ensure the exchange goes through, and has been given 90 days since last month’s acquisition filing with Fox to make it happen.
Disney’s decision to divest the networks forms part of an order made by the US Department of Justice (DOJ) last June, to avoid a situation where Disney, which already owns the ESPN, would monopolise the US sports rights market.
Technology giant Amazon has already secured the YES Network, a premium asset partially owned by MLB franchise the New York Yankees.
The agreement, which is said to be close to US$3.5 billion, was reportedly made in collaboration with the Sinclair Broadcast Group and would allow Amazon streaming rights to the network’s baseball and basketball coverage in the New York regional market.
Meanwhile, Ice Cube’s Big3 basketball league is also in the running for the remaining RSNs. The rapper-turned-actor filed a complaint to the US Federal Communications Commission (FCC) last week relating to allegations that US telco Charter Communications acted to undermine Big3’s bid for the remaining Fox RSNs.
According to the New York Times, the DOJ is set to meet with Ice Cube, whose given name is O’Shea Jackson, to discuss the matter further. Ice Cube this week appeared to confirm that the Big3’s interest in the RSNs was still being considered, tweeting: ‘We’re still in the game. Now it’s time to win it for the culture.’
Magic Johnson, the National Basketball Association (NBA) icon, has also apparently joined Ice Cube’s consortium in pursuing the RSNs.
Major League Baseball (MLB) has reportedly teamed up with Formula One owners Liberty Media to buy the remaining 21 regional sports networks (RSN) being sold by Disney as part of its Fox takeover.
Liberty Media, which formed part of the early building block to Fox’s sports empire during the 1990s, has apparently made a joint offer with the professional baseball organisation, as Disney closes its final round of bidding for the sought-after networks.
During an investors call in February, Liberty Media chief executive Greg Maffei confirmed that the company would examine whether the RSNs could form a “long-term investment”, hinting that Liberty’s input during their creation could put the company in good stead.
He said: “Where that investment would be done … really depends on the scope and size and who our partners are and how that turns out.
“We are approaching them with appropriate caution and appropriate wide-eyed certainty and understanding that, [while] we formed a lot of these things with Fox a long time ago, we have a lot of history with them and understand those businesses well.”
The RSNs, which are apparently valued in the region of US$10 billion, form the final pieces to Disney’s US$71.3 billion acquisition of Fox assets, which was completed on 19th March – 15 months after the deal was set in motion in December 2017.
However, Disney, which already owns the ESPN sports network, still has to offload Fox’s sports channels to ensure the exchange goes through, and has been given 90 days since last month’s acquisition filing with Fox to make it happen.
Disney’s decision to divest the networks forms part of an order made by the US Department of Justice (DOJ) last June, to avoid a situation where Disney, which already owns the ESPN, would monopolise the US sports rights market.
Technology giant Amazon has already secured the YES Network, a premium asset partially owned by MLB franchise the New York Yankees.
The agreement, which is said to be close to US$3.5 billion, was reportedly made in collaboration with the Sinclair Broadcast Group and would allow Amazon streaming rights to the network’s baseball and basketball coverage in the New York regional market.
Meanwhile, Ice Cube’s Big3 basketball league is also in the running for the remaining RSNs. The rapper-turned-actor filed a complaint to the US Federal Communications Commission (FCC) last week relating to allegations that US telco Charter Communications acted to undermine Big3’s bid for the remaining Fox RSNs.
According to the New York Times, the DOJ is set to meet with Ice Cube, whose given name is O’Shea Jackson, to discuss the matter further. Ice Cube this week appeared to confirm that the Big3’s interest in the RSNs was still being considered, tweeting: ‘We’re still in the game. Now it’s time to win it for the culture.’ Magic Johnson, the National Basketball Association (NBA) icon, has also apparently joined Ice Cube’s consortium in pursuing the RSNs.
