Tags: Fox | Sports | Dodgers | bid

News Corp.’s Fox Sports Said to Consider Bidding for Dodgers

Wednesday, 02 Nov 2011 01:05 PM

 

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News Corp.’s Fox Sports may participate in an auction for the bankrupt Los Angeles Dodgers baseball team, a person familiar with the company’s thinking said.

Fox will compare the price of renewing its current telecast contract with the cost of buying the team, said the person, who declined to be named because the deliberations are not public.

News Corp. owned the team from 1998 until 2004, when it sold the club to current owner Frank McCourt for $421 million after locking up the TV rights until 2013.

The Dodgers said today that McCourt will sell the team as part of a deal to end a court fight with Major League Baseball over how best to get the club out of bankruptcy. The proposed auction must be approved by the federal judge in Wilmington, Delaware, overseeing the team’s bankruptcy.

The Dodgers filed bankruptcy in June after Baseball Commissioner Bud Selig rejected a proposed, new contract McCourt negotiated with Fox worth about $3 billion.

“If it comes down to paying $3 billion for telecast rights or $1 billion for the team, the math may mean you buy the team,” the person said. There are also drawbacks to owning a sports team, which the company experienced when they previously owned the Dodgers, the person said.

News Corp. spokesman Jack Horner declined to comment.

© Copyright 2014 Bloomberg News. All rights reserved.

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