New Fox appears to be a leading contender to buy the regional sports network from Disney that it is purchasing from 21st Century Fox. Fox, after selling off its 21st Century Fox assets for $71.3 billion, is refocusing on sports and news. Disney is selling off the regional sports network due to its ownership of ESPN.
The network could fetch as much as $20 billion if sold piecemeal. However, Disney may want to sell it off to a single buyer in order to expedite the regulatory process for the bigger sale of 21st Century Fox.
Rupert Murdoch has named his new company “Fox.” This includes Fox News, Fox Business, and the sports networks still owned by Fox. Adding the regional sports network to the lineup would be a logical addition. The price tag shouldn’t be an issue for Murdoch either as the final sales price of 21st Century Fox was $19 billion over the initial agreed upon sales price.
Disney just recently sent out the bid book for this regional sports network. Formal offers have not come in yet.