Fox Joins Auction for LA Dodgers
The News Corp. unit is positioning itself to take a potential minority stake to strengthen its chances of retaining the team's TV rights.
NEW YORK - News Corp.'s Fox has joined the auction process for the LA Dodgers by signing a nondisclosure agreement, the Wall Street Journal, which is also part of the entertainment conglomerate, reported.
The company, however, does not want to fully own the baseball franchise, like it did from 1998 to 2004, but is eyeing a minority stake to boost its chances of keeping the valuable Dodgers TV rights, according to the Journal.
It cited sources familiar with the company's thinking as saying it is interested in a 15 percent-20 percent stake. A Fox spokesman told the Journal that the company has no interest in "owning the Dodgers."
Among the bidders lining up for the LA baseball team is Earvin "Magic" Johnson.
Fox's Southern California regional sports network Prime Ticket is the Dodgers' current local broadcast partner under a deal set to expire after the 2013 season.
Time Warner Cable is also expected to look to win the Dodgers TV rights to add content to two regional sports networks that it said it would launch after signing a long-term deal with the NBA's Los Angeles Lakers.
Fox has joined the Dodgers auction after earlier this week settling its legal battle with the team, which agreed to not sell its TV rights in advance of a proposed sale.