Sinclair took a $4.23 billion write-down of its regional sports assets in 2020 after a downturn in the business. The company's regional sports networks have exclusive broadcasting rights to 42 professional teams (including 16 National Basketball Association teams, 14 Major League Baseball teams, and 12 National Hockey League teams), and the channels collectively generated $3.8 billion in 2018, across nearly 75 million subscribers. The transaction, initially valued at $10.6 billion, is managed through a joint venture called Diamond Holdings Group, and formally closed the transfer in August 2019 for $9.6 billion. Sinclair Broadcast Group formed the company with Byron Allen's Entertainment Studios to acquire 22 regional Fox Sports Networks affiliates and Fox College Sports from The Walt Disney Company, which was required to divest of these networks to secure government antitrust approval. The company operates Bally Sports, a group of regional sports channels that was formerly known as the Fox Sports Networks. ![]() ![]() ![]() Sinclair Broadcast Group, Entertainment StudiosÄiamond Sports Group LLC is an American media and entertainment company operating as a subsidiary of Sinclair Broadcast Group, and partnered with Entertainment Studios.
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