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Fox not to bid for regional sports networks Disney may sell

New Fox, the company to be spun off in connection with 21st Century Fox Inc.'s merger with Walt Disney Co., does not intend to bid for any of the regional sports networks that Disney may sell to win U.S. Justice Department's approval for the 21st Century Fox entertainment assets.

Fox Corp. said in an SEC filing that it intends to commence preliminary discussions with investors in connection with a potential financing consisting of senior unsecured notes.

The company plans to use the net proceeds of the notes offering to partially fund the dividend payment to 21st Century Fox in the amount of $8.5 billion in accordance with that amended and restated agreement and plan of merger dated June 20, 2018.