Initial bids for the 22 regional sports networks Disney acquired in the company’s purchase of 21st Century Fox’s entertainment assets are due today. The US Justice Department has stipulated that Disney must sell those networks off in order for the deal to be approved.
Plenty of names have been bandied about as potential bidders. TMZ has an interesting pair to throw in the mix. Rap legends LL Cool J and Ice Cube are part of a group led by Alex and Ani jewelry mogul Carolyn Rafaelian that sees YES Network as the crown jewel of the package and intends to make a bid. The group, according to TMZ, will continue its recruiting efforts by seeking out other “sports and cultural icons” to invest.
Disney values the YES Network alone at somewhere between $5 and $6 billion. The entire package is expected to fetch between $15 and $25 billion according to the Wall Street Journal. Whoever wins the bidding will instantly be the largest owner of regional sports networks in the United States.
