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Diamond Sports Group

From Wikipedia, the free encyclopedia

Diamond Sports Group LLC is an American media and entertainment company operating as a subsidiary of Sinclair Broadcast Group, and partnered with Byron Allen's Entertainment Studios. Sinclair formed the company with Allen to acquire 22 regional Fox Sports Networks affiliates and Fox College Sports from The Walt Disney Company, which was required to divest of these networks to secure government antitrust approval.[1] The transaction, initially valued at $10.6 billion, is managed through a joint venture called Diamond Holdings Group,[2] and formally closed the transfer in August 2019 for $9.6 billion.[3] The company's regional sports networks have exclusive broadcasting rights to 42 professional teams (including 16 National Basketball Association teams, 14 Major League Baseball teams, and 12 National Hockey League teams),[4] and the channels collectively generated $3.8 billion in 2018, across nearly 75 million subscribers.[2]

References

  1. ^ Mirabella, Lorraine (May 7, 2019). "Sinclair stock soars over sports deal". The Baltimore Sun. Retrieved September 22, 2020.
  2. ^ a b Littleton, Cynthia (May 3, 2019). "Sinclair Clinches Disney-Regional Sports Networks Deal, Byron Allen Joins as Partner". Variety. Retrieved September 22, 2020.
  3. ^ Hayes, Dade (August 23, 2019). "Disney, Sinclair Broadcast Group, Byron Allen Close Regional Sports Network Deal". Deadline. Retrieved September 22, 2020.
  4. ^ "Sinclair Completes Acquisition of Regional Sports Networks From Disney". The Walt Disney Company. August 23, 2019. Retrieved September 23, 2020.
This page was last edited on 22 October 2020, at 04:03
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