Magic Johnson’s $2.3 Billion Dodgers Bid Fueled by TV Potential
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Magic Johnson’s winning $2.3 billion offer for the Los Angeles Dodgers probably was fueled by what one sports economist called a “wild bidding process” that will unfold between Time Warner Cable Inc. and News Corp.’s Fox Sports for the Major League Baseball team’s broadcast rights.
Johnson’s group, which includes Guggenheim Partners Chief Executive Mark Walter and former Atlanta Braves and Washington Nationals President Stan Kasten, gained the franchise with a bid that adds to the team’s long history, more than doubling the amount paid for a major U.S. sports franchise.