Ice Cube In Talks For Sports Network Bid For BIG3
Ice Cube could be coming to your televisions with a brand new sports network in the near future. Centerbridge Partners LP, firm is planning to help contribute with the rapper-turned-actor to bid and purchase a group of regional sports networks being sold by Walt Disney Co.
Disney, who currently owns all of ESPN networks, agreed to sell 22 networks to lock-in approval for the company’s $71 billion takeover of 21st Century Fox Inc. By adding Fox, Disney would have a majority role in the sports-broadcasting industry. Disney would have three months to sell the networks which, according to reports, could likely happen this month.
As far as Cube, he is likely to bring his three-on-three basketball league, The Big3, to the channel as he will be backed by some notable names in the industry.
According to reports,
Big3 has ties to big names in sports and entertainment, including rapper LL Cool J and tennis star Serena Williams. Basketball Hall of Famer Clyde Drexler serves as commissioner of the league.
Though bidding for the assets hasn’t been as aggressive as Disney might have hoped, there are several potential suitors looming.
Although, Cube has competition in the bidding market. A few other contenders including Sinclair Broadcast Group Inc., Apollo Global Management LLC and Major League Baseball submitted offers in an earlier round of bidding.
With Cube’s BIG3, the rap icon plans to expand it’s networks with 24-hour national programming geared toward the younger generation including shows with sport and celebrity appearances with a more culturally diverse programming around live sports.