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Bally Sports 2 Months Away From Bankruptcy?
Posted on 1/25/23 at 2:43 pm
Posted on 1/25/23 at 2:43 pm
quote:
Gerry Smith @gerryfsmith 5h
New: America's largest owner of local sports channels is heading toward bankruptcy court, putting at risk its payments to MLB, NBA and NHL teams. Story w/ @EK_Hudson @rachel_butt LINK
quote:
John Ourand @Ourand_SBJ 10m
Bloomberg has Diamond Sports going into bankruptcy within the next two months.
A lot of times when companies go bankrupt they keep on going and just adjust terms with their creditors. But I think Sinclair is taking such a loss on these all the speculation I've seen is that bankruptcy will lead to Sinclair selling it off.
Posted on 1/25/23 at 2:44 pm to TigerinATL
Maybe this is why the pelicans stuck with them. They can buy the whole damn thing (Pels piece) on a discount. Don’t forget benson media owned fox 8. They paid to have cables ran under champion square and the Hyatt, also a benson property, could act as a hell of a HQ.
This post was edited on 1/25/23 at 2:45 pm
Posted on 1/25/23 at 2:50 pm to TigerinATL
They seem to be going to chapter 11, and restructuring with creditors. Don't think this will have any impact in the production or day-to-day of games.
It will likely delay cash flow from Diamond/Bally to the teams, as they won't be required to make their payments while in bankruptcy court.
But who knows how it will play out, but this has been anticipated for over a year now.
Personally, I think the future of local RSNs will be leagues going to a model similar to what MLS/Apple just did. Which is, there's no real "local" RSN, but rather the leagues selling the "local" rights in bulk to a distributor like Apple/Prime/Youtube and producing them in house and distributing via those platforms and selling DTC.
Essentially, conversion of NBA League Pass to have NO Blackouts (outside of ESPN/TNT) games.
It will likely delay cash flow from Diamond/Bally to the teams, as they won't be required to make their payments while in bankruptcy court.
But who knows how it will play out, but this has been anticipated for over a year now.
Personally, I think the future of local RSNs will be leagues going to a model similar to what MLS/Apple just did. Which is, there's no real "local" RSN, but rather the leagues selling the "local" rights in bulk to a distributor like Apple/Prime/Youtube and producing them in house and distributing via those platforms and selling DTC.
Essentially, conversion of NBA League Pass to have NO Blackouts (outside of ESPN/TNT) games.
Posted on 1/25/23 at 2:50 pm to touchdownjeebus
Sinclair paid $9.6 Billion for Fox Sports in 2019.
This is a report from December:
LINK
So it sounds like the leagues think they can get their rights back even cheaper once they go bankrupt.
This is a report from December:
quote:
The potential $3 billion sale of regional sports network unit of Sinclair Broadcast (NASDAQ:SBGI) to professional sports teams may be in peril. Sinclair fell 1.1%.
Talks with MLB, NBA and NHL to acquire Diamond Sports Group, which operates 21 Bally Sports-branded regional sports networks, are said to be in trouble as the sports leagues no longer want to pay a premium in a buyout, according a New York post report on Sunday.
LINK
So it sounds like the leagues think they can get their rights back even cheaper once they go bankrupt.
Posted on 1/25/23 at 2:57 pm to TigerinATL
quote:
Sinclair paid $9.6 Billion for Fox Sports in 2019.
Amazing piece of business by Fox/Murdoch. Sold the channels to Disney at valuation of nearly $20 Billion in 2018, as part of the sale of Fox assets to Disney.
1 year later, Disney sold for half that; now bankrupt. Great timing by old Rupert
Posted on 1/25/23 at 5:16 pm to pjk481
quote:
Personally, I think the future of local RSNs will be leagues going to a model similar to what MLS/Apple just did. Which is, there's no real "local" RSN, but rather the leagues selling the "local" rights in bulk to a distributor like Apple/Prime/Youtube and producing them in house and distributing via those platforms and selling DTC.
Essentially, conversion of NBA League Pass to have NO Blackouts (outside of ESPN/TNT) games.
I am in Toronto, Canada. I have League Pass. Last year, League Pass blacked out approximately 35% of Pels games. I had to get 2 local sports streaming subscription services on top of League Pass so I could watch most of the Pels games. The subscription services usually carry ESPN/TNT Pels games. Did I mention the NBA also blacks me out of playoff games (since the local sports networks [that I subscribe to]) carry the playoff games. I still am blacked out when games are on NBATV Canada.
The whole system of broadcasting games is a mess. I want ONE source (like League Pass) to carry ALL games, pre-season to playoffs. If there's a game on, I want to be able to just go to my one source, instead of wasting my time trying to figure out which of my 3 sources is showing that game (or if NBATV is blacking me out).
I would be willing to pay League Pass 30-40% more if it could my one and only source for all games.
Posted on 1/25/23 at 5:24 pm to GoodOne
quote:
The whole system of broadcasting games is a mess. I want ONE source (like League Pass) to carry ALL games,
A few weeks ago MLB hired a former Regional Sports Network exec to figure out how to do exactly that with baseball. Buying back the rights is the easiest way to do that and seems to be their plan with Bally.
I really believe that's why the Pels stuck with Bally instead of doing a new long term deal with NBC Sports. It will be a cheaper contract to buy their way out of and get their games on a consolidated League Pass.
Posted on 1/25/23 at 5:46 pm to pjk481
quote:
They seem to be going to chapter 11, and restructuring with creditors. Don't think this will have any impact in the production or day-to-day of games. It will likely delay cash flow from Diamond/Bally to the teams, as they won't be required to make their payments while in bankruptcy court. But who knows how it will play out, but this has been anticipated for over a year now. Personally, I think the future of local RSNs will be leagues going to a model similar to what MLS/Apple just did. Which is, there's no real "local" RSN, but rather the leagues selling the "local" rights in bulk to a distributor like Apple/Prime/Youtube and producing them in house and distributing via those platforms and selling DTC. Essentially, conversion of NBA League Pass to have NO Blackouts (outside of ESPN/TNT) games.
This might be the most well thought out and explained post in the history of Pels Talk.
Posted on 1/25/23 at 5:55 pm to TigerinATL
Hey TigerinATL. Thanks for that "it's happening isn't it?" GIF from the TV series Arrested Development. It's one of my favorite comedy shows of all time.
Posted on 1/25/23 at 7:06 pm to GoodOne
quote:
The whole system of broadcasting games is a mess. I want ONE source (like League Pass) to carry ALL games, pre-season to playoffs.
Get an IPTV source, homie.
Posted on 1/25/23 at 7:45 pm to TigerinATL
I was coming around to not minding ballys and then they introduced this stupid fkn gear wheel with the betting lines and stats that cover the whole screen and the toggles that don't hide themselves half the time and best case, if it does hide you still have a big fricking gear wheel on the bottom of your screen. It's insanity that it defaults to all that shite being on, like who in the fk is making decisions at this company.
Fk em.
Fk em.
This post was edited on 1/25/23 at 7:47 pm
Posted on 1/25/23 at 10:14 pm to touchdownjeebus
quote:
Get an IPTV source, homie.
I've considered it before. Got any recommendation for a legit Provider with reliable signal and at decent price?
Posted on 1/25/23 at 10:34 pm to Pendulum
quote:
I was coming around to not minding ballys and then they introduced this stupid fkn gear wheel with the betting lines and stats that cover the whole screen and the toggles that don't hide themselves half the time and best case, if it does hide you still have a big fricking gear wheel on the bottom of your screen. It's insanity that it defaults to all that shite being on, like who in the fk is making decisions at this company.
The NBA has opened up the floodgates to gambling. It's now always in your face. Not happy about that move. I'm sure the NBA is making serious coin in licensing fees from the gambling companies. If anyone likes to gamble, go ahead and knock yourself out. I'm here for the basketball.
Posted on 1/26/23 at 5:44 am to GoodOne
Contentwizards@protonmail.com
They can help you out. They will be honest with you, and if you don’t like it, they give you a refund.
They can help you out. They will be honest with you, and if you don’t like it, they give you a refund.
Posted on 1/26/23 at 1:40 pm to touchdownjeebus
quote:
Don’t forget benson media owned fox 8.
Benson owns very little of Fox8, he sold it Raycom a few months before he passed.
Posted on 1/26/23 at 2:28 pm to pjk481
quote:
Amazing piece of business by Fox/Murdoch. Sold the channels to Disney at valuation of nearly $20 Billion in 2018, as part of the sale of Fox assets to Disney.
1 year later, Disney sold for half that; now bankrupt. Great timing by old Rupert
Disney was required to sell the sports networks by the DOJ in order to complete the larger Fox acquisition (due to Disney already owning ESPN).
Posted on 1/26/23 at 2:41 pm to touchdownjeebus
quote:
Contentwizards@protonmail.com
They can help you out. They will be honest with you, and if you don’t like it, they give you a refund.
Thanks. I have seen these guys in my previous research, but I could not find a website for them, so I thought they were not legit. Have you actually used their service?
Posted on 1/27/23 at 9:10 pm to TigerinATL
It costs me $30 month for Bally Sports through Directv after the free 3 month trial. Nothing worthwhile but the Pels games.
Posted on 1/29/23 at 8:30 am to hellsu
As much as this mid-season meltdown has hurt, it's going to really be a bummer when we lose Joel Myers to this bullshite
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