Home Business News Amazon in the race to buy 22 Disney sports networks

Amazon in the race to buy 22 Disney sports networks

by Purvai Dua
21st Nov 18 9:37 am

Amazon is bidding for Walt Disney Co’s 22 regional sports networks, including New York-focused Yes Network, according to a recent report by CNBC.

The e-commerce giant’s bid includes the New York-based YES Network, sources familiar with the matter told CNBC. It is bidding for the New York network along with an unknown sovereign wealth fund and the Yankees, the sources said.

Disney, which is buying Twenty-First Century Fox Inc’s film and television assets, had said it would divest 22 of Fox’s regional sports networks as part of its agreement with the US Department of Justice.

If Amazon clinches the deal, it would pay a higher price than the $13.7bn the retail giant paid to buy Whole Foods Co last year.

Amazon has moved aggressively into TV to bolster its Prime membership service, which offers free delivery and content for a flat monthly fee. Its bid for the sports assets underlines its ambition to take on traditional pay-TV broadcasters in one of their most reliable sources of revenue.

Amazon already has rights to air 20 English Premier League soccer matches, giving its Prime Video online streaming service a foothold in the most-watched sports league in the world. It also has rights to America’s National Football League and National Hockey League.

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