Sinclair Broadcast’s Diamond Sports misses debt payment, setting up potential bankruptcy filing

A struggling subsidiary of Hunt Valley-based Sinclair Broadcast Group that owns regional sports networks has opted to miss a debt payment due Wednesday, setting up a potential bankruptcy reorganization. Diamond Sports Group, the nation’s largest owner of cable TV sports channels that showcase more than half of all MLB, NHL and NBA teams, said Wednesday that it plans to “maximize its financial flexibility” and will not pay the $140 million cash interest payments on its debt.