Report: Disney looks to sell regional sports nets piecemeal

|By:, SA News Editor

Disney (DIS +1.2%) is increasingly likely to sell off the 22 regional sports networks it's getting from Fox (FOX +0.4%, FOXA +0.2%) in pieces rather than to a single buyer, the New York Post reports.

That's due to the complications arising in the sale, according to the report. A single deal would be simpler, but Disney is seeking a solid overall price on a package of deals it must complete within 90 days of closing the $71.3B Fox asset transaction.

The only known serious party to make a single bid for all the RSNs is Sinclair Broadcast Group (SBGI +2.6%)/CVC Capital, but the Post says that was a lowball bid. Meanwhile, Apollo (APO +3%) and Nexstar (NXST +4.7%) have bid for almost all the networks -- but Apollo needs a partner, and Nexstar is likely less serious after agreeing to pay $6B for Tribune Media (NYSE:TRCO).

Still out there for some slice of the RSNs: Charter (CHTR +0.9%), Minnesota Twins owner Jim Pohlad, Major League Baseball, the New York Yankees (for YES Network), Amazon.com (AMZN +0.4%), Blackstone (BX +2.9%), and Tegna (TGNA +3.2%), among others.

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