New York (CNN Business) Sinclair Broadcast Group will purchase 21 regional sports networks from the Walt Disney Company for $9.6 billion, the two companies announced Friday. The move bolsters, which operates one of the largest networks of local television stations in the country. If approved by the Department of Justice, the deal will make Sinclair the owner of the largest collection of regional sports networks in the marketplace, the press release said. Under the deal, Sinclair will also acquire Fox College Sports. Sinclair and Disney said in the press release that in 2018 the 21 regional sports networks generated $3.8 billion in revenue and had 74 million subscribers.

Source: CNN May 03, 2019 22:30 UTC