Sinclair Broadcast’s Diamond Sports headed toward bankruptcy filing, NYP reports

Diamond Sports Group, the nation’s dominant owner of regional sports networks and a unit of Sinclair Broadcast Group (SBGI), may be headed toward a bankruptcy filing that could hasten a nationwide migration of sports fans away from cable TV, The New York Post’s Josh Kosman reports. MLB, the NBA and NHL are no longer willing to pay a premium in a buyout after Diamond slashed its outlook for this year’s profitability in half, according to the report. MLB could potentially step in as a temporary platform next year, but the streaming rights are expected to eventually end up with Big Tech companies like Apple (AAPL), Amazon (AMZN) and Facebook (META), sources said. Reference Link