Speaking on a panel at Advertising Week in NYC, Sinclair CEO Chris Ripley had a lot to say about the current news surrounding RSNs.
While discussing the deal between Sinclair and Disney in which Sinclair acquired Fox Regional Sports Networks, Ripley commented that managing the entire deal amid intense media scrutiny added to the pressure.
Disney was being required by the Department of Justice to sell the networks. Fortunately for Sinclair, other buyers were limited in their options as they wouldn’t meet regulatory approval qualifications by the DOJ either.
“That really explains why you all read about these huge prices that these assets were supposed to go for, and when you saw the actual announcement they way under-achieved those expectations,” Ripley said, according to a report from the panel. “If any one of those five other buyers had been involved with the process, you would have seen a price much more in line” with initial estimates. “Disney’s misfortune was our great fortune, and at the end of the day that’s how we prevailed,” he added. “Better to be lucky than good.”
Sources from the panel say Ripley also shared that he’s interested in making deals to acquire additional RSNs, naming those owned by AT&T specifically.
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