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Parent company of regional sports networks misses $140M in payments. Here’s what it means for TV viewers.

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Parent company of regional sports networks misses $140M in payments. Here’s what it means for TV viewers.
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The financially troubled parent company of regional sports networks that own the broadcast rights to 42 U.S. professional sports teams skipped about $140 million in interest payments due Wednesday.

The missed payments by Diamond Sports Group started a 30-day grace period that could be the prelude to a bankruptcy filing, which could lead to changes in how televised games are made available to viewers.

Diamond is a subsidiary of Sinclair Broadcast Group Inc. and owns the 19 Bally Sports regional networks, which broadcast games of 14 Major League Baseball, 16 NBA and 12 NHL teams.

Diamond has nearly $1 billion in rights payments, mostly to baseball teams, due in the first quarter this year.

 

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