`Peons' Spend $10.6 Billion to Compete With Sports

Sinclair Broadcast Group Inc. Chief Executive Officer Christopher Ripley joins Scott Soshnick, Michael Barr and Eben Novy-Williams to discuss a host of issues related to the business of sports, including his company's $10.6 billion purchase of 21 regional sports networks from Disney. The price for the RSNs, as they're called, was well below what analysts initially expected them to fetch. Disney had to unload the properties as part of its already-completed acquisition of 21st Century Fox Inc.’s entertainment assets. The deal turns Sinclair from a mostly local-TV company into a sports powerhouse. And it lets the broadcaster gain from the booming sports-betting industry. Ripley discusses Sinclair's strategy for the networks, and why he's bullish on sports rights. Hosts: Scott Soshnick, Michael Barr and Eben Novy-Williams Producer: Madena ParwanaSee omnystudio.com/listener for privacy information.