Amazon Bids for Fox Regional Sports Networks (Report)

Jeff Bezos_2 - Getty - H 2018
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Private equity firms Apollo Global Management, KKR and Blackstone Group, as well as TV station powerhouses Sinclair Broadcast Group and TEGNA, also submitted bids, according to CNBC.

Amazon has made a first-round bid for the 22 Fox regional sports networks that regulators have said Walt Disney must divest as part of its acquisition of large parts of 21st Century Fox, CNBC reported Tuesday, citing unnamed sources.

The bid seems to be part of Amazon’s broader sports push, which has included streaming the NFL’s Thursday Night Football. This summer, the company, led by chairman and CEO Jeff Bezos, also struck a deal to air 20 English Premier League soccer matches per season for three years starting in 2019.

Private equity firms Apollo Global Management, KKR and Blackstone Group, as well as TV station powerhouses Sinclair Broadcast Group and TEGNA, also submitted bids for the regional sports networks, according to CNBC.

Financial terms weren’t detailed in the report. Analysts have said the sports networks could fetch around $20 billion.

Fox itself could join the bidding in the second round, according to the report.

One of the Fox sports channels, New York’s YES Network, which airs New York Yankees, Brooklyn Nets and New York City Football Club games, could end up back under full control of the Yankees baseball club, which owns a 20 percent stake. The Yankees and a sovereign wealth fund have submitted bids for the network, CNBC said.

Fox declined to comment. Amazon and Disney couldn’t immediately be reached for comment.