[ad_1]
Sinclair Broadcast Group's subsidiary Channel Tennis Club sounds the death knell of NASDAQ, led by President Ken Soloman.
Gary Gershoff | Getty Images
Sinclair Broadcast announced Friday the acquisition of 21 Disney regional sports networks, valued at $ 10.6 billion.
In adjusting minority interests, Sinclair said he had bought $ 9.6 billion worth of assets. The broadcasting company reported that the networks had 74 million subscribers and generated revenues of $ 3.8 billion in 2018.
Sinclair CEO Chris Ripley said in a statement that the agreement would help the company focus on providing high quality sports programs.
The agreement still requires approval from the Justice Department, which has asked Disney to sell its networks when it bought $ 71 billion of television assets and movies from Twenty-First Century Fox. The Sinclair and Disney councils approved the agreement unanimously.
The Sinclair purchase does not include the YES network, which includes the Brooklyn Nets and New York Yankees games.
WATCH: Sinclair buys 21 regional sports networks at Disney
[ad_2]
Source link