Amazon Reportedly Among Bidders for Disney's Regional Sports Networks
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Amazon is reportedly interested in buying a slate of regional sports network that includes the YES network, which airs Yankees and Nets games.

The sweepstakes for some of Walt Disney Co.'s (DIS) newly acquired regional sports networks are underway. 

As a condition of its acquisition of most of the the film and TV assets of Twenty-First Century Fox Inc (FOXA)  earlier this year, Disney was required to sell the regional sports networks it was acquiring since it already owns ESPN and some sports programming through ABC. 

Now the deep-pocketed Amazon.com Inc. (AMZN) is bidding for all 22 regional sports network that Disney acquired from Fox, including the YES Network, which airs Yankees and Brooklyn Nets games, according to a report from CNBC that cited sources familiar with the matter. The Yankees, Blackstone, and an unnamed sovereign wealth fund are also all bidding for YES, according to the report.

Amazon has shown some interest in sports programming before, having carried the NFL's Thursday Night Football games last year.

Apollo Global Management LLC (APO) , KKR & Co. Inc. (KKR) , and Sinclair Broadcast Group Inc. (SBGI)  and Tegna (TGNA) have all made first-round bids for the entire suite of sports networks, according to CNBC. The second round is slated to start before the end of the year. 

Disney shares fell 1.11% to $111.87 at market close, while Amazon spiralled down 3.08% to $1,495.46.

Disney and Amazon are holdings in Jim Cramer's Action Alerts PLUS member club . Want to be alerted before Jim Cramer buys or sells DIS or AMZN? Learn more now.

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