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Fox Sports regional networks to be rebranded as Bally Sports
Posted on 3/23/21 at 3:13 pm
Posted on 3/23/21 at 3:13 pm
This all stems back to Disney acquiring 21st Century Fox. As part of an anti-trust settlement with the DOJ, Disney was required to divest the 22 Fox Sports RSNs. They eventually sold to Sinclair Broadcasting in 2019 for $9.6 billion (significantly less than the $20-$22B Disney was seeking).
Sinclair seemingly over leveraged themselves with only $1.4B of the purchase in cash and the rest in bonds, loans and stocks. RSNs linked to cable/satellite deals are a depreciating asset, particularly hard hit by the last year of covid. Dish, Fubo, DirecTV, YouTube TV have dug in their heels on refusing to come to new carriage agreements for the previously expired deals. In short, Sinclair has a ton of debt and isn't getting their networks on the big name providers. They're hemorrhaging money on this RSN purchase.
So instead of rebranding their networks as Diamond Sports as they had planned, they've sold the naming rights of the networks to Bally Corporation for $88 million over 10 years plus a 15% ownership stake in Bally that can grow up to 30%. Bally Corporation owns and operates 12 casinos and the agreement is expected to integrate sports betting opportunities into network coverage.
LINK
Sinclair seemingly over leveraged themselves with only $1.4B of the purchase in cash and the rest in bonds, loans and stocks. RSNs linked to cable/satellite deals are a depreciating asset, particularly hard hit by the last year of covid. Dish, Fubo, DirecTV, YouTube TV have dug in their heels on refusing to come to new carriage agreements for the previously expired deals. In short, Sinclair has a ton of debt and isn't getting their networks on the big name providers. They're hemorrhaging money on this RSN purchase.
So instead of rebranding their networks as Diamond Sports as they had planned, they've sold the naming rights of the networks to Bally Corporation for $88 million over 10 years plus a 15% ownership stake in Bally that can grow up to 30%. Bally Corporation owns and operates 12 casinos and the agreement is expected to integrate sports betting opportunities into network coverage.
quote:
Once the transition is complete, it is expected that all of the regional sports networks operating under the Bally brand will begin to include more sports gambling-related content in their coverage.
LINK
11
Posted on 3/23/21 at 3:16 pm to Lsuhoohoo
Yeah, Fox Sports Midwest posted the new logo last week.
Good for those providers not giving into the FSN networks.
They lose a ton of money on them. And are forced into shite deals with the regional networks, because of sports teams.
Good for those providers not giving into the FSN networks.
They lose a ton of money on them. And are forced into shite deals with the regional networks, because of sports teams.
Posted on 3/23/21 at 3:17 pm to Lsuhoohoo
frick Sinclair.
All of the NBA teams on their networks are kind of fricked.
All of the NBA teams on their networks are kind of fricked.
Posted on 3/23/21 at 3:18 pm to Lsuhoohoo
In L.A. we wearing Chucks, not Ballys
Posted on 3/23/21 at 3:36 pm to Fun Bunch
quote:
All of the NBA teams on their networks are kind of fricked.
They carry NBA, MLB and NHL teams. All of them are fricked. Dish has straight up said they're not coming back to RSNs. They're losing customers to cord cutting so they've made the decision that added fees for RSNs aren't beneficial.
The deal with Ballys is interesting though broadly speaking. In 2019, MLB returned ownership of streaming rights to the individual teams. MLB had previously owned the rights collectively through MLB.tv and distributed payout to the team. With the individual ownership though, it sets up the teams to sell their own streaming rights which is likely the future of MLB consumption. Direct to consumer streaming. But I can see a scenario where casinos and betting companies buy the presentation rights ans integrate betting software into the streaming app.
Posted on 3/23/21 at 3:44 pm to Lsuhoohoo
quote:
In 2019, MLB returned ownership of streaming rights to the individual teams. MLB had previously owned the rights collectively through MLB.tv and distributed payout to the team. With the individual ownership though, it sets up the teams to sell their own streaming rights which is likely the future of MLB consumption. Direct to consumer streaming.
Which will lead to the oh so glorious day when I can log into MLB.tv (or a team specific version) and watch the Astros.
Posted on 3/23/21 at 3:55 pm to stlslick
Yeah my Dad is pissed. He switched to YTTV just in time for then to drop FS Midwest. Really he's just pissed that there isn't a streaming option at this point.
Posted on 3/23/21 at 4:01 pm to Cliff Booth
quote:
Which will lead to the oh so glorious day when I can log into MLB.tv (or a team specific version) and watch the Astros.
How long that will be, I don't know. The teams have ownership of their rights but still have to abide by the terms of their current carriage agreements which mean....blackouts.
Honestly, it would have been ideal if Disney had been able to hold on to the RSNs. Disney is probably the media company most capable and willing to offer a streaming only service that's less vested in a cable/satellite subscription. Disney already offers this with ESPN+ broadcasts. Whereas the other RSNs are tied to providers/trad broadcasters like AT&T, Comcast, Sinclair
This post was edited on 3/23/21 at 4:05 pm
Posted on 3/23/21 at 4:01 pm to Lsuhoohoo
Bally Total Fitness
Posted on 3/23/21 at 4:32 pm to Lsuhoohoo
we are sports!
we are Bally's Southwest!
we are Bally's Southwest!
Posted on 3/23/21 at 4:37 pm to Lsuhoohoo
quote:
the agreement is expected to integrate sports betting opportunities into network coverage.
I'm not against gambling as a moral issue, but I'm not a gambler myself and I'm already tired of it intruding into my sports coverage.
Posted on 3/23/21 at 6:13 pm to Cliff Booth
quote:
Which will lead to the oh so glorious day when I can log into MLB.tv (or a team specific version) and watch the Astros.
This streaming service is $5 a month and has MLB.tv and AT&T Sportsnet South West. Also the UFC PPV's, premium cable channels - including HBO, Showtime and Starz. Has a lot more but I haven't had time to look at all the channels. The first day I got the service back in October I wound up on a British channel that was showing HBO content
Streaming Sports
Live:
Paused:
Posted on 3/23/21 at 7:06 pm to Lsuhoohoo
quote:
But I can see a scenario where casinos and betting companies buy the presentation rights ans integrate betting software into the streaming app.
I think that’s the plan. Odds will be updated in real time throughout the game. Viewers will have a continuous and updated list of betting options at their fingertips as they watch the game.
Two base runners on with one out in an inning. If you think the batter is a bum and will hit into a double play, soon you’ll be able to place a bet on your prediction.
Posted on 3/23/21 at 7:36 pm to Fun Bunch
quote:
ded as Bally Sports
frick Sinclair.
All of the NBA teams on their networks are kind of fricked.
There are rumors the NBA may buy out all the various local deals to combine everything into one giant package b/c they are tired of the NBA package they sell having so many issues with blackouts.
Posted on 3/23/21 at 7:52 pm to mattz1122
quote:Formerly Presidents Heath Clubs! Used to pay three years up front to get the $75 per year price.
Bally Total Fitness
Posted on 3/23/21 at 7:56 pm to Lsuhoohoo
Dallas 1 Tampa Bay 0, with (;30 in the 1st. On Fox Sports Southwest right now. Hintz with the goal on a power play.
Posted on 3/24/21 at 8:24 am to Lsuhoohoo
I'm looking forward to being more easily able to bet on games. If you want sports then you're most likely going to have to subscribe to cable or satellite. it seems that the streaming services are geared toward people who don't watch sports.
Posted on 3/24/21 at 8:42 am to Ralph_Wiggum
quote:
I'm looking forward to being more easily able to bet on games. If you want sports then you're most likely going to have to subscribe to cable or satellite. it seems that the streaming services are geared toward people who don't watch sports.
Then you are going to continue to pay through the nose. Cable TV has been holding customers for ransom for decades, which started the streaming service revelation as we know it.
It's 2021, and the internet is only limited by a person's imagination. Missing any sporting event is a choice, not a product of anyone's personal circumstance.
Posted on 3/24/21 at 9:10 am to Fun Bunch
quote:
frick Sinclair.
I hate these people. Watching a Hawks game is nearly impossible now without having to jump through hoops.
Posted on 3/30/21 at 1:09 pm to Ghost of Colby
quote:
I think that’s the plan. Odds will be updated in real time throughout the game. Viewers will have a continuous and updated list of betting options at their fingertips as they watch the game.
Two base runners on with one out in an inning. If you think the batter is a bum and will hit into a double play, soon you’ll be able to place a bet on your prediction.
The problem with this is live betting is much more difficult to execute. Odds are constantly changing, to place live bets you have to be very quick and approve odd changes on the spot. I also am not sure how they account for streams/broadcasts being slightly delayed from the actual event. My live betting apps are typically 10 or so seconds ahead of whatever broadcast I am watching (I don't watch streams either strictly cable). You can't have live sports betting on your broadcast unless the stream is as live as the event.
This post was edited on 3/30/21 at 1:10 pm
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