Sinclair to buy Disney's sports networks in $10 billion deal - WSJ

Sinclair Broadcast Group Inc, the largest U.S. broadcast station owner, has reached a deal valued at more than $10 billion to buy 21 regional sports networks from Walt Disney Co, the Wall Street Journal reported on Thursday.

The deal, which would include sports channels in Los Angeles and Detroit, is expected to be announced as early as Friday, the newspaper said, citing people familiar with the matter.

Disney and Sinclair were not immediately available for comment.

TRENDING NOW

Zydus Lifesciences shares extend losses to third day; is there any opportunity?

India suspends visa services in Canada till further notice

M&M's Canada-based associate firm winds up

Vedanta shares slip as the firm discusses issuance of non-convertible debentures

Long-form posts on X now at 3 billion views per day: Elon Musk

HDFC AMC shares jump after RBI's nod to acquire up to 9.5% stake in Karur Vysya Bank and DCB Bank

Lava Probuds 22 with quad-mic ENC, 50 hours of playback launched at Rs 1,399

SJVN's two-day OFS opens today; shares tank around 10%

Retail inflation for farm, rural workers eases marginally in August

Traders' Diary: Buy, sell or hold strategy on SBI Life, Emami, Godrej Properties, Dr Lal PathLabs, Birlasoft, over a dozen other stocks today

Low-interest rates prompted households to shift to physical assets: SBI Research

Anil Singhvi strategy September 21: Important levels to track in Nifty, Nifty Bank today

Agency hired by India to scrutinise Canadians' visa applications withdraws notice on suspension of services

EMS IPO Listing Date Today LIVE Updates: Anil Singhvi predicts strong debut - Check stop loss

Noida Traffic Police Advisory: Roads open and close in New Delhi, Noida and Greater Noida during International Trade Show and Moto GP

Disney acquired the sports networks as part of its $71 billion acquisition of Twenty-First Century Fox Inc`s film and television assets.

The company agreed to sell the networks after the U.S. Justice Department said Disney, which owns cable sports network ESPN, must divest the Fox networks that provide sports programming for regional and local markets.

Disney closed the acquisition of Fox`s film and television assets in March, nearly a year after it won a bidding war against cable company Comcast Corp .

The potential deal for Disney`s sports networks would come after Tribune Media Co terminated the sale of 42 TV stations in 33 markets to Sinclair last year.

Other suitors for Disney`s channels included Liberty Media Corp and Big 3 Basketball LLC, whose management includes Jeff Kwatinetz and rapper and actor Ice Cube, according to the Wall Street Journal.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)