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Sinclair Broadcast CEO eyes deal for Fox’s regional sports networks

Sinclair Broadcast Group Inc. is eyeing potential deals with its attempted takeover of Tribune Media Co. a thing of the past.

CEO Chris Ripley said Tuesday the pipeline for mergers and acquisitions “is quite full right now.” In particular, Hunt Valley, Maryland-based Sinclair could look at acquiring 14 TV stations currently owned by Cox Enterprises Inc. or 21st Century Fox Inc.’s portfolio of 22 regional sports networks.

Ripley called the regional sports networks an “interesting fit” because Sinclair’s already has the infrastructure in place to improve production, administration and sales for the networks. Sinclair (NASDAQ: SBGI) is the largest TV broadcaster in the U.S. with 191 television stations in 89 markets.

The regional sports networks are up for sale because the Walt Disney Co.’s (NYSE: DIS) acquisition of Fox (NASDAQ: FOX). The U.S. Department Justice made the sale of the networks a condition for approval of the $71 billion deal. Guggenheim Securities valued the package at…

Read the full story from the Washington Business Journal.



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