Pohlad joins the bid led by Liberty Media Chair John Malone and Platinum Equity Chair & CEO Tom GoresGETTY IMAGES
Twins Owner Jim Pohlad is joining Platinum Equity and Liberty Media in the "bidding for the 21 regional-sports networks" being sold by Disney, according to sources cited by Scott Soshnick of BLOOMBERG NEWS. Liberty Chair John Malone also owns the Braves, while Platinum Chair & CEO Tom Gores owns the Pistons. Platinum had initially "expressed interest" in FS Detroit, while Liberty "wanted the Atlanta channel." However, Disney "wants to sell all 21 instead of having to make separate deals." Sinclair Broadcast Group, Apollo Global Management and MLB also "submitted offers." Sources said that consolidation among bidders is "still a possibility." A source said that MLB is bidding as a way to "protect smaller-market clubs" like the Twins. The source added that the league is "concerned that a private equity buyer acquiring the entire package won’t commit resources to the RSNs that carry small-market teams" (BLOOMBERG NEWS, 2/5).
