‘New Fox’ focused on being growth company, sources say

‘New Fox’ focused on being growth company, sources say




The new Fox is focused on being a growth firm, sources inform CNBC.

The trimmer model of the information firm mentioned in a regulatory submitting Friday that it has “no intention” of bidding for the regional sports activities networks that have been a part of its sale of property to Disney final 12 months.

The second spherical of bids for these regional sports activities networks are due on the finish of January, the sources mentioned. Sinclair appears to be the only real bidder. Amazon just isn’t bidding after contemplating a deal. The non-public fairness corporations Blackstone and Apollo had hoped to accomplice with Fox on a bid, the sources mentioned.

Twenty-first Century Fox offered film studio and tv property to Disney final 12 months, and the brand new Fox, run by Lachlan Murdoch, is focused on information. Disney, which owns the sports activities community ESPN, has mentioned it will promote the regional sports activities networks acquired within the Fox deal.




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