Fox says no plans to bid for sports networks Disney may sell

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(Reuters) – Twenty-First Century Fox (O:FOXA) stated http://www.sec.gov/Archives/edgar/knowledge/1308161/000119312519006651/0001193125-19-006651-index.htm on Friday it doesn’t plan to bid for any of the regional sports activities networks that Walt Disney Co might have to promote to win U.S. Justice Division’s approval for its buy of Fox’s movie and TV belongings.

Fox Chairman Lachlan Murdoch stated in November it was nonetheless an “open query” whether or not the corporate will purchase again the regional sports activities networks it bought to Disney (N:DIS) in July as a part of the $71 billion deal.

Disney received a bidding conflict final 12 months in opposition to cable firm Comcast Corp (O:CMCSA) to accumulate Fox’s belongings. However the U.S. Justice Division has stated Disney, which owns cable sports activities community ESPN, should divest Fox’s 22 networks that present sports activities programming for regional and native markets.

After the Disney sale is accomplished, Fox will carve out a brand new firm, together with Fox Information, Enterprise, Sports activities and the Broadcasting Firm which it expects to have annual income of round $10 billion.

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