LOS ANGELES (CelebrityAccess) — LL Cool J and Ice Cube have reportedly joined a consortium of investors planning to make a bid for 22 regional sports channels, including several Fox Sports outlets and the Yes Network.
Disney is divesting the stations at the request of the Justice Department as part of their $71 billion acquisition of 21st Century Fox. Anti-trust regulators expressed concern that the deal would give Disney, which is already a majority owner of ESPN, too much influence in the spots broadcast world.
The stations in question include Fox Sports San Diego to Fox Sports Arizona, Fox Sports Detroit, and Fox Sports Southwest, as well as YES, which Disney estimates is worth between $6 and $7bn by itself, according to the Wall Street Journal.
In all, the stations are worth between $15 and $20bn, representing as much as a quarter of the value of Disney’s acquisition of 21st Century Fox.
According to TMZ, who broke the story, the Ice Cube/LL Cool J group also includes billionaire Carolyn Rafaelian, who made her fortune as the founder of the Rhode Island-based Alex and Ani jewelry maker.
Other bidders on the stations include private equity groups Apollo Global Management and the Sinclair Broadcast Group.