Bally Sports may go bankrupt per Elliotte Friedman
According to insider Elliotte Friedman on his "32 Thoughts" podcast, a major television network is on the verge of bankruptcy.
There's a major story in development in the sports world right now, and it's not talked about enough because there's too much action right now, while we're in the middle of the NHL season, but it's probably the biggest story in hockey right now.
The very large and popular Bally Sports RSN is declaring bankruptcy. That includes no less than 12 (!) NHL TV networks, 12 NHL Networks."
The very large and popular Bally Sports RSN is declaring bankruptcy. That includes no less than 12 (!) NHL TV networks, 12 NHL Networks."
Here are the details:
Bally Sports RSNs are preparing for bankruptcy, including 12 NHL networks.
The company called Diamond Sports Group LLC, which runs Sinclairs sports channels, is reportedly $8.6 billion in debt. Sinclair hopes to strike a deal to help them keep the networks going through bankruptcy, but it's not guaranteed.
In total, Sinclair owes $55 billion in sports media rights, according to Bloomberg. A bankruptcy could jeopardise payments to the NBA and NHL. It is reported that Sinclair will skip a $140 million interest payment due in mid-February, beginning a 30-day grace period for the company.
[...]
This would affect media in Los Angeles, Anaheim, Arizona, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay and Florida."
- Via Puckempire, Instagram
The company called Diamond Sports Group LLC, which runs Sinclairs sports channels, is reportedly $8.6 billion in debt. Sinclair hopes to strike a deal to help them keep the networks going through bankruptcy, but it's not guaranteed.
In total, Sinclair owes $55 billion in sports media rights, according to Bloomberg. A bankruptcy could jeopardise payments to the NBA and NHL. It is reported that Sinclair will skip a $140 million interest payment due in mid-February, beginning a 30-day grace period for the company.
[...]
This would affect media in Los Angeles, Anaheim, Arizona, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay and Florida."
- Via Puckempire, Instagram
The markets that would be affected are Arizona, Los Angeles, Anaheim, Dallas, St. Louis, Minnesota, Detroit, Columbus, Nashville, Carolina, Tampa Bay and Florida.
File to follow.
Credit HabsEtLNH: Majeur: un populaire reseau de television sportive se prepare officiellement a declarer faillite
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