DOJ Approves Sinclair $9.6 Billion RSN Buy, Deal Complete
DOJ approved Disney's divestiture of regional sports networks to Sinclair, Justice announced Friday. “Sinclair’s acquisition of the divested regional sports networks addresses the harm the Division identified in its review of the Disney-Fox transaction,” said Antitrust Division Chief Makan Delrahim.…
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DOJ "did not find that the Divestiture Transaction would lead to competitive harm, and found that Sinclair has the incentive to use the RSNs to compete in all affected markets," the release said. Sinclair completed its $9.6 billion buy of 21 regional sports networks and Fox College Sports, Sinclair and Disney said earlier that day. Sinclair’s buy “is the largest collection of RSNs,” they said. The bundle of networks includes local rights to 42 professional sports teams -- 14 from MLB, 16 from the NBA, and 12 from the NHL. The RSNs were bought through Sinclair indirect subsidiary Diamond Sports Group. Entertainment Studios CEO Byron Allen agreed to become an equity and content partner in a newly formed indirect subsidiary of Sinclair that will be “an indirect parent of Diamond called the RSN Holding Company,” the release said.