While the Disney-Fox deal will not close until the end of the year, initial bids on the 22 RSNs that Disney will need to unload are due on Nov. 8, and potential suitors "include private-equity firms" Apollo Global Management, Blackstone, KKR and Providence Equity Partners, according to sources cited by Flint, Beaton & Gottfried of the WALL STREET JOURNAL. A source said that private-equity firm Silver Lake is "looking at the networks in partnership with its portfolio company," Endeavor. Sinclair Broadcast Group also has said publicly that it is "interested in the channels." Sources confirmed a report from late last week that that Fox also is "considered a serious contender for the sports channels." Meanwhile, sources said that Ice Cube has "emerged as the face of one bid, teaming up with investors from his 'Big 3' basketball league and others in a minority-owned conglomerate." Sources noted that a number of sports-team owners are "considering submitting offers for channels in their specific markets." Tech companies are "also in the mix." Guggenheim Securities valued the RSNs at $25B, but some likely bidders and industry observers said that they are "more likely to fetch" $16-20B, "depending on how they are packaged and sold." Disney’s acquisition of the Fox assets is "expected to close" in the first half of '19 (WALL STREET JOURNAL, 10/30).
ILITCHES MOVING AHEAD: In Detroit, Shea & Pinho reported the Ilitch family has "created a parent company and sought federal trademark protection" for 10 names of a possible Tigers-Red Wings RSN. The family also "registered 15 web domain names." The Ilitches announced last week that they are "studying the possibility of launching" an RSN to carry live games and other content once the Tigers' and Red Wings' deals with FS Detroit "are up in the early 2020s." The family "created Detroit Sports Network LLC in Delaware" and incorporated the entity on Oct. 18 (CRAINSDETROIT.com, 10/29).
