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Illustration: Lazaro Gamio/Axios

Sinclair Broadcasting is the front-runner to buy a package of regional sports networks being sold by Walt Disney Co., following a bid of around $10 billion, per Fox Business Network. A deal could be announced as early as this week.

Why it matters: This would represent a major reversal of fortunes for Sinclair, which last year was blocked from buying Tribune Media after allegedly lying to the FCC and acting in bad faith with Tribune's board.

The backdrop: Disney, which owns ESPN, agreed to sell the RSNs in order to get regulatory approval for its $52 billion purchase of 21st Century Fox's entertainment assets. Other bidders include Major League Baseball (now working with Liberty Media), the BIG3 basketball league and Amazon (which reportedly only wants one RSN, the New York Yankees-centric YES).

The bottom line: "Disney initially sought as much as $20 billion for the entire package... [But] most of the interest came from parties looking to snap up the RSNs at a low-ball price. Industry trends show declining cable profitability due to cord cutting and sports leagues maintaining ownership (rather than the networks), of the all-important digital rights for games to be viewed on wireless devices," write Fox Business' Lydia Moynihan and Charlie Gasparino.

Go deeper: Amazon reportedly bids for Disney's regional sports networks

Go deeper

Federal Reserve expands lending program for small businesses

Federal Reserve Chairman Jerome Powell at a news conference in 2019. Photo: Eric Baradat/AFP via Getty Images

The Federal Reserve said on Friday it would again lower the minimum loan size for its pandemic-era small business program.

Details: Businesses and nonprofits will be able to borrow a minimum of $100,000 from the facility, down from $250,000 — a move that might attract smaller businesses that don't need as hefty of a loan. Since the program launched earlier this year, the minimum loan size has been reduced twice.

2 hours ago - Economy & Business

How Trump and Biden would steer the future of transportation

Illustration: Eniola Odetunde/Axios

President Donald Trump and Democratic challenger Joe Biden would likely steer automotive policy in different directions over the next four years, potentially changing the industry's road map to the future.

Why it matters: The auto industry is on the cusp of historic technological changes and the next president — as well as the next Congress — could have an extraordinary influence on how the future of transportation plays out.