Diamond Sports Group, the Sinclair-owned company that owns and operates 19 Bally Sports regional sports networks (RSNs), has filed for Chapter 11 bankruptcy, potentially leaving 42 professional sports franchises across the United States without a home broadcaster.
The filing, recorded in the US Bankruptcy Court for the Southern District of Texas, comes after the company missed a $140m (€130.5m) interest payment amid debt at roughly $8.6bn that it hopes to eliminate by making the filing. By finalizing a Restructuring Support Agreement (RSA) with creditors, Diamond will become a standalone company separate of Sinclair.
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