LL Cool J and Ice Cube Join Forces to Buy Sports TV Stations
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It’s deeper than rap.
According to TMZ the two rap legends are part of a “powerful group looking to bid on 22 regional sports channels” that Disney is being forced to sell.
The deal for all 22 stations is expected to go for $15 to $25 billion. Carolyn Rafaelian, the billionaire founder of Alex and Ani jewelry is reportedly partnering with Cube and LL for the buy.
Disney owns the 22 stations as part of its $71 billion acquisition of 21st Century Fox. But, since Disney owns ESPN, lawmakers believe they shouldn’t have ownership over all of Fox’s sports networks, so, the Justice Department has forced Disney to sell them.
Among the list of stations includes Fox Sports San Diego, Fox Sports Arizona, Fox Sports Detroit, Fox Sports Southwest, and the YES Network. YES has the rights to broadcast Yankees games and is estimated to be worth between $5 and $6 billion.
The group is also reportedly in talks with other public figures for participation in the bid, which is due on November 8.