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Stock impact report

Sports leagues question whether broadcaster Diamond can survive without Comcast [Yahoo! Finance]

Sinclair Broadcast Group, Inc. - Class A (SBGI) 
Last sinclair broadcast group, inc. - class a earnings: 2/26 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: sbgi.net/investor-relations
Company Research Source: Yahoo! Finance
said on Wednesday that bankrupt broadcaster Diamond Sports may not survive without a new deal with cable distributor Comcast . The sports leagues told a bankruptcy judge at a court hearing in Houston that they need more information about a negotiating impasse that caused Diamond's Bally Sports-branded channels to be pulled from Comcast at the start of May, with baseball season underway and the NBA and NHL in the midst of postseason playoffs. Diamond, a subsidiary of Sinclair Broadcast Group, had been pushing to finalize its bankruptcy restructuring by June 15, but the sports leagues said Diamond must first reach deals with the three major cable partners, including Comcast, that provide 80% of the company's revenue. Without those deals, Diamond's revenue might not be enough to sustain its business, and the leagues may have to seek alternative broadcast arrangements for the teams currently under contract with Diamond. Diamond currently broadcasts games for over one-third of NBA, N Show less Read more
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