Major League Baseball has submitted a bid for the Fox regional sports networks being sold by Disney, sources tell CNBC.
Disney is casting off the networks in order to complete its $71 billion deal with Fox last year. CNBC has previously reported that Sinclair Broadcast Group was bidding.
The sources said the bid would value the sports networks at no more than 6.5 times earnings before interest, taxes, depreciation and amortization.
Twenty-first Century Fox sold its movie studio and television assets to Disney last year, and the new Fox said in a regulatory filing last month it had “no intention” of bidding for the sports networks. Bloomberg reported MLB’s bid on Thursday, also citing sources.
Source:CNBC
