trending Market Intelligence /marketintelligence/en/news-insights/trending/PEGZuEBfBwANRGtbdjpXxQ2 content esgSubNav
In This List

Sinclair completes acquisition of 21 regional sports networks from Disney

Blog

Broadcast deal market recap 2021

Blog

Europe: 5 key OTT trends to watch in 202

Blog

Price wars in India: Disney+ Hotstar vs. Amazon Prime Video vs. Netflix

Blog

Volume of Investment Research Reports on Inflation Increased in Q4 2021


Sinclair completes acquisition of 21 regional sports networks from Disney

Sinclair Broadcast Group Inc. closed on the acquisition of majority stakes in 21 regional sports networks and FOX College Sports (US) from Walt Disney Co.

The transaction ascribed a total enterprise value to the RSNs equal to $10.6 billion, which, after adjusting for minority interests, reflects a total purchase price of $9.6 billion, the companies said Aug. 23.

The RSN portfolio includes exclusive local rights to 42 professional teams consisting of 14 Major League Baseball teams, 16 National Basketball Association teams and 12 National Hockey League teams. It does not include the YES Network (US), which airs New York Yankees baseball programming.

The RSNs were acquired via a newly formed, indirect subsidiary of Sinclair, Diamond Sports Group LLC. Byron Allen, founder, chairman and CEO of Entertainment Studios Inc., agreed to become an equity and content partner in a newly formed indirect subsidiary of Sinclair and an indirect parent of Diamond.

The aggregate purchase price, transaction costs and an additional cash amount contributed to Diamond was funded through a $1.4 billion cash contribution from Sinclair, $1 billion of preferred equity issued by a parent company of Diamond, a $3.3 billion secured term B loan facility entered into by Diamond, and $3.1 billion of secured notes and $1.8 billion of senior notes issued by Diamond and Diamond Sports Finance Co.