Author Topic: Sinclair/Diamond Sports bankruptcy watch  (Read 388 times)

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Offline nfotiu

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Sinclair/Diamond Sports bankruptcy watch
« Topic Start: October 22, 2020, 12:29:51 PM »
https://www.bloomberg.com/news/articles/2020-10-13/u-s-bankruptcy-tracker-media-companies-see-distress-surge

The division of Sinclair that holds the former Fox Sportsnets is in a whole world of trouble.  This article blames COVID, but that is really the least of Sinclairs problems.  Hulu just dropped them all today, YTTV dropped them a while ago.  Traditional cable/sat numbers are falling fast and all the team's contracts are rising.   Nobody is capitulating to their demands for increased fees any more, and they are likely on the verge of bankruptcy.

Basically half of MLBs teams TV contracts are at risk, and this is shaping up to be one of the biggest stories in sports.   There's no way they can model themselves to meet these contracts, and there is no one out there who is going to take them on.