Pay wall
Overview:
- Diamond’s own parent, Sinclair, staggered under more than $8 billion of debt from its 2019 acquisition of the RSN, an unpropitiously timed deal that came just as cord-cutting took hold.
- Fears have swept leagues, particularly MLB, that its 14 teams carried by Bally would be abandoned by Diamond. That does not appear to be happening.
- The prepackaged bankruptcy, which is still being negotiated with creditors, is expected to reduce Diamond’s debt by $8 billion and sever the company from Sinclair Broadcasting.