‘New Fox’ focused on being growth company, sources say

New Fox is focused on being a growth company, sources tell CNBC.

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The trimmer version of the news company said in a regulatory filing on Friday that it has « no intention’ of bidding for the regional sports networks that were part of its sale of assets to Disney last year.

The second round of bids for those regional sports networks are due at the end of January, the sources said. Sinclair seems to be the sole bidder. Amazon is not bidding after considering a deal. The private equity firms Blackstone and Apollo had hoped to partner with Fox on a bid, the sources said.

Twenty-first Century Fox sold movie studio and television assets to Disney last year, and the new Fox, run by Lachlan Murdoch, is focused on news. Disney, which owns the sports network ESPN, has said it would sell the regional sports networks acquired in the Fox deal.

Source: CNBC

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