It appears that Disney’s recent acquisition of 21st Century Fox may have opened some doors for other businesses and entrepreneurs, as a recent stipulation in the deal has required them to sell off some of their assets.
According to the report, Disney, who already owns ESPN in addition to their purchase of Fox, would have too much power and control of sports media if allowed to maintain ownership on all of Fox’s sports-related assets, therefore there are now 22 regional sports channels currently up for sale.
Meanwhile, it’s been noted that two of the potential buyers are hip hop legends LL Cool J and Ice Cube, who are both members of a “powerful group” looking to bid on the channels, that include Fox Sports San Diego, Fox Sports Arizona, Fox Sports Detroit, Fox Sports Southwest, and the YES Network. The YES Network, which broadcasts New York Yankees game, is said to be worth between $5 and $6 billion alone, while the deal for all 22 channels included in the package is expected to run between $15 and $25 billion. With all that said, while the initial reports back in November only speculated the potential of LL Cool J and Ice Cube reaching a deal, it’s now been reported that the two businessmen have secured several billion dollar commitments as they look to work out a purchasing strategy. Additionally, it’s been said that if all goes through, Cube and LL plan to corner the market with content that caters to young audiences.