A Hip-Hop collaboration no one saw coming.
Good friends and legendary rappers LL Cool J and Ice Cube are reportedly joining forces to bid on 22 regional sports channels, according to reports from TMZ. The Justice Dept is forcing Disney to sell said channels following their $71 billion gaining of 21st Century Fox.
Good friends Ice Cube and LL Cool J are trying to buy 22 sports TV stations ? https://t.co/GGLwO83LIT
Officials have said that since Disney is the majority owner of ESPN, they probably shouldn’t be permitted to control as many as 22 sports stations as they’ll essentially have monopolized the whole market by that point. LL Cool J and Ice Cube are part of the group looking to bid on the channels, which includes the New York-based YES Network. Disney has estimated the value of YES alone at $5 to $6 billion.
The two stars have linked up billionaire Carolyn Rafaelian, which gives them a huge advantage. Sources close to the situation say that the group is currently in talks with other possible investors interested in bidding alongside them, with the initial bids taking place as soon as tomorrow (Nov. 8).
The deal for all 22 stations together is expected to reach as low as $15 billion and as high as $25 billion.