Amazon makes bid to 20th Century Fox for 22 regional sports networks

By hotmaillogin

Retail and entertainment giant Amazon has reportedly placed a bid for 22 regional US sports networks, according to the New York Times and CNBC. The networks are being sold by entertainment company 20th Century Fox, as part of a regulatory stipulation, prior to its sale to the Walt Disney Corporation.

Collectively, the networks are estimated as having a value of US$20bn, according to Reuters, and are responsible for airing the games of “44 teams in the N.B.A., Major League Baseball and the National Hockey League”.

The New York Times suggests Amazon’s desire to purchase the networks stems from a desire to further promote its Prime membership plan. “At a time when pay TV is in decline, sports content drives viewership across platforms. Owning rights to big franchises would help Amazon market its Prime program… especially if that membership included access to those games”. Attracting more streaming customers to Prime would also help boost sales in Amazon’s retail sector, as “Prime members tend to buy more on Amazon”.


Chinese regulators approve Disney acquisition of Fox assets

Disney announces streaming service name alongside new Star Wars and Marvel series

Disney announces fresh structure ahead of 21st Century Fox acquisition

Click here to read the latest issue of Business Chief North America

Amazon has already broadcast sports on its streaming platform; its partnership with the NFL for “Thursday Night Football” began in 2017. In the 2018 season, the company is scheduled to broadcast 11 games, having paid $130mn for the two year contract.

However, the company’s $20bn bid for Fox’s 22 networks is almost 170 times larger. The New York TImes asks: “why would Amazon want to spend so much for a business that could come undone in the next few years? The obvious answer is that Amazon expects — or plans to create — disruption”.

“Streaming could become the dominant media business in the next few years, which could mean that streaming companies become the leading sports broadcasters if they line up the right deals”.


Featured Articles

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy

The best Michelin-starred restaurants that are meat-free