Sinclair to buy 21 regional sports networks from Disney at $10.6 billion valuation

Sinclair Broadcast Group's subsidiary Tennis Channel rings the NASDAQ bell, led by President Ken Soloman.

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Sinclair Broadcast announced Friday that it will buy 21 regional sports networks from Disney at a $10.6 billion valuation.

Adjusting for minority equity interests, Sinclair said it bought the assets for $9.6 billion. The broadcasting company said the networks had 74 million subscribers and brought in $3.8 billion in revenue in 2018.

The deal still requires approval from the Department of Justice, which had demanded that Disney divest the networks when it bought television and film assets from Twenty-First Century Fox.

This is breaking news. Please check back for updates.

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