Disney said it has sold the 21 regional sports networks it acquired at the time it bought 21st Century Fox to the Sinclair Broadcast Group, for a total value of USD 10.6 billion. The total price reflects a purchase price of USD 9.6 billion and adjustments for minority equity interests. The deal will complete after receiving the usual closing conditions, including the approval of the US Department of Justice. It has been unanimously approved by the voard of directors of both Sinclair and Disney.
Under the transaction, Sinclair buys 21 Regional Sports Networks and Fox College Sports, with the exception of the Yes Network. With the networks come exclusive local rights to 42 professional teams consisting of 14 Major League Baseball (MLB) teams, 16 National Basketball Association (NBA) teams, and 12 National Hockey League (NHL) teams. For 2018, the portfolio generated a total of USD 3.8 billion in revenues, across 74 million subscribers.
Specifically, Sinclair has bought: Fox Sports Arizona, Fox Sports Detroit, Fox Sports Florida, Fox Sports Sun, Fox Sports North, Fox Sports Wisconsin, Fox Sports Ohio, SportsTime Ohio, Fox Sports South, Fox Sports Carolina, Fox Sports Tennessee, Fox Sports Southeast, Fox Sports Southwest, Fox Sports Oklahoma, Fox Sports New Orleans, Fox Sports Midwest, Fox Sports Kansas City, Fox Sports Indiana, Fox Sports San Diego, Fox Sports West, and Prime Ticket, as well as Fox College Sports.
The channels will be acquired via a newly formed indirect unit of Sinclair, Diamond Sports Group. Byron Allen will be an equity and content partner in a newly formed indirect wholly-owned subsidiary of Sinclair and an indirect parent of Diamond, called the RSN Holding Company. Allen, who bought The Weather Channel in 2018, is the founder, chairman, and CEO Executive Officer of Entertainment Studios, a global media, content and technology company.
