LL Cool J and Ice Cube are joining forces with a powerful group of folks looking to bid on 22 regional sports channels — including the YES Network, which Disney is being forced to sell off by the Justice Dept.
As reported by TMZ, Disney acquired the 22 stations as part of its $71 billion acquisition of 21st Century Fox. The mouse house (Mickey) is already the majority owner of ESPN and officials believe that controlling the 22 sports stations would give the company too much power in the sports TV landscape, the webloid writes.
The stations reportedly involved in the deal include Fox Sports San Diego, Fox Sports Arizona, Fox Sports Detroit, Fox Sports Southwest and more.
The New York-based YES Network, which has the rights to broadcast Yankees games, is worth between $5 and $6 billion, according to the Wall Street Journal. The deal for all 22 stations is expected to fall anywhere from $15 to $25 billion.
Some of the potential bidders are private equity firms like Apollo Global Management and Blackstone Group to the Sinclair Broadcast Group.
To help secure their bid, Ice Cube and LL have reportedly teamed with powerful partners … billionaire Alex and Ani jewelry founder Carolyn Rafaelian.
Initial bids are due Nov. 8.
Article Courtesy of EURweb
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