TV-station giant Sinclair Broadcast Group Inc. has struck a deal valued at more than $10 billion to acquire 21 regional sports networks from Walt Disney Co., according to people familiar with the matter.
The agreement is expected to be announced as early as Friday, the people said.
For Sinclair SBGI, -3.68% , already the nation’s biggest owner of local television stations, the deal would instantly make it a force in cable programming. Among the properties it is acquiring are sports channels in Los Angeles and Detroit.
Disney DIS, -1.64% acquired the sports networks as part of its purchase of entertainment assets of 21st Century Fox and agreed to sell them to pave the way for government approval of the deal.
An expanded version of this report appears on WSJ.com.
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