Sinclair to Buy 21 RSNs, Fox College Sports From Disney; ACA Concerned
Sinclair will buy 21 regional sports networks and Fox College Sports from Disney, which acquired them when it bought most of the assets of 21st Century Fox (see 1901140039), said the companies Friday. The deal has a “total enterprise value”…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
to the RSNs worth $10.6 billion, including the $9.6 billion purchase price, they said. The deal requires DOJ approval, they said. The RSNs changing hands excludes the YES Network, but is “the largest collection of RSNs in the marketplace today, with an extensive footprint that includes exclusive local rights to 42 professional teams” in baseball, basketball and hockey, they said. The RSNs collectively had $3.8 billion revenue and 74 million subscribers in 2018. Sinclair will buy them through a new Diamond Sports Group subsidiary, they said. “While consumer viewing habits have shifted, the tradition of watching live sports and news remains ingrained in our culture,” said Sinclair CEO Chris Ripley. “We are ideally positioned to transfer our skills to deliver and expand our focus on greater premium sports programming.” Antitrust regulators should reject the proposed deal, said America's Communication Association CEO Matt Polka. “Big 4 broadcast network programming and RSN programming are both critical for ACA Connects members,” Polka said. “By jointly negotiating these assets when they serve the same market, Sinclair can raise prices to cable operators for both offerings.”