Fox Sports Ohio Nearing Deal for SportsTime Ohio: ReportsTransaction for Cleveland Indians' Network Could Close by Year-End 12/04/2012 4:52 AM Eastern
Fox Sports may be close to bolstering its regional sports network presence in Ohio.
Published reports indicate that Fox Sports Ohio is nearing a deal to purchase SportsTime Ohio, the cable network home of the Cleveland Indians. The Indians and SportsTime Ohio are owned by Larry Dolan and his family, which formed the RSN in 2006. Fox Sports Ohio previously held Indians’ TV rights.
The Cleveland Plain Dealer reports that the transaction would be valued between $200 million and $250 million and the parties want to close the deal before year-end because of new tax laws in 2013.Time Warner Cable Sports has also reportedly made a play for STO.
Fox declined comment, while officials at STO and TWC Sports did not return phone calls.
Elsewhere, rights renewal negotiations continue between Fox’s Prime Ticket and the Los Angeles Dodgers, while parent News Corp. will finalize a transaction to gain a 49% stake in YES Network by year-end.