An NHL source confirmed today that the third bidder for the Dallas Stars is News Corp./Fox, which surfaced yesterday as a possible bidder on the Rangers.
The three bidders on the Stars right now are: Calgary Oilman Bill Gallacher, Vancouver businessman Tom Gaglardi and News Corp.
News Corp. owns Fox Sports, and the purchase of the Stars and Rangers would help guarantee contracts for FSN Southwest, as well as ensure future programming if they hope to expand their product. Because the Rangers are in bankruptcy court and the Stars are not, the two purchases would have to be made separately. There is a chance News Corp. could end up with one team and not the other, or it could end up with both teams or no teams.
Hicks Sports Group placed the Stars up for sale in February and retained Galatioto Sports Partners to broker the deal. Gallacher and Gaglardi have been at the forefront of the search.
Gallacher invests in oil production and financing, while Gaglardi's family owns Northlands Properties, which operates hotel and restaurant chains in Canada. Gallacher is the owner of the Portland Winterhawks of the Western Hockey League, while Gaglardi is part of a group that owns the Kamloops Blazers of the Western Hockey League.
Stars owner Tom Hicks said earlier this month that he believes the sale will be completed before the start of the season in October.