Diamond Sports Group, a subsidiary of Hunt Valley-based Sinclair Broadcast Group Inc., may be headed for Chapter 11 bankruptcy, according to Bloomberg. Bloomberg reported Wednesday that Diamond, the TV home for more than half of all MLB, NHL and NBA teams, is likely to skip a $140 million interest payment in February on the company’s $8.6 billion in debt. According to Bloomberg, Diamond Sports is preparing for a possible Chapter 11 restructuring of debt the company used in 2019 to buy regional sports networks.
Sinclair sports subsidiary may file for Chapter 11 bankruptcy, Bloomberg reports
January 31, 2023