The pending deal, which could be completed by the end of this month, might be worth between $200 million and $250 million, according to the Cleveland Plain Dealer. The report claimed that the Indians' rights fees for broadcasting their games could increase to $40 million from $30 million per year.
The Tribe did not comment on the ongoing talks.
The Indians' ownership under the Dolan family created STO in 2006 in an effort to generate extra revenues for the ballclub. Fox -- reportedly up against Time Warner Cable in the bidding to purchase the network this time around -- held broadcasting rights for Indians games prior to '06.
STO would likely exist in some form for the 2013 season, while Fox continues to finish the process of assuming control of the network. It is not clear how the sale would effect Indians broadcasters Rick Manning, Matt Underwood and Al Pawlowski.
Beyond acquiring the rights to Indians games, Fox already carries Cincinnati Reds baseball games, Cleveland Cavs NBA games, Columbus Blue Jackets NHL games, Columbus Crew soccer contests and Lake Erie Monsters hockey games, along with broadcasts for University of Cincinnati and Dayton.