LL Cool J and Ice Cube are plotting a takeover — but don’t call it a comeback, because we’re not talking about the music biz.
The two veteran rappers who have since found success in Hollywood are part of a group of investors bidding on a pack of 22 regional sports channels, including the YES Network, that Disney is being forced to sell by the Department of Justice due to anti-trust concerns. Officials say Disney can’t be the majority owner of ESPN and the owner of another couple dozen regional channels.
Some of the channels now up for grabs include Fox Sports San Diego, Fox Sports Arizona, Fox Sports Detroit, and Fox Sports Southwest. The YES Network, valued between $5 and $6 billion, is called the crown jewel of the deal.
The entire bundle is expected to go for between $15 and $25 billion. Initial bids are due tomorrow (Thursday) in what’s expected to be an intense bidding war. (TMZ)
Fasho Thoughts:
- $15 to $25 billion? Yeah, that’s about what I pay for my cable bill each month.
- If they manage to win the bid, this will be a big move for Cube’s Big 3 basketball league.
- Even though cable TV has been declining in popularity over the years as streaming services steal away market share, live sports and events are still super lucrative. It’s appointment viewing, which is basically on-demand-proof.
- They should try to get LeBron James involved. He knows sports and he knows about producing quality TV.
Source: CS / CS
