Amazon bids for Fox regional sports networks

Amazon bids for 22 regional sports networks

Amazon has put in a bid for the 22 regional sports Disney acquired from 21st Century Fox, according to CNBC.

Apollo Global Management, KKR & Co, The Blackstone Group, Sinclair Broadcast Group and Tegna also made bids for the networks, according to CNBC.

Amazon's bid includes the Yes Network. Blackstone and the New York Yankees also bid for the tri-state area network, according to CNBC.

Yes is considered the 'crown jewel' of the bundle. Fox bought a 49% stake in the network for $3.8bn from the Yankees in 2012, and increased its stake to 80% in 2014 at a similar valuation, according to the Wall Street Journal.

The Journal also reported Disney is putting a tag of $5bn to $6bn on Yes.

The Department of Justice is requiring Disney, which owns ESPN, to sell off the regional networks.

The second round of bidding is said to begin before the end of 2018.

This bid marks an apparent push for live sports content. In 2017, Amazon paid $50m to stream Thursday Night Football games in America. This year, it secured rights to stream exclusive Premier League matches.

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