Could the Bally Sports RSNs be on the market?
It seems like a possibility. On Monday night, John Ourand of the Sports Business Journal reported that Sinclair had hired a pair of investment banks, LionTree and Moelis.
Liontree is the bank hired by The Athletic last year to look for a buyer, initially seeking $750 million but eventually settling for $550 million. The bank was also involved in Ted Leonsis’ purchase of NBC Sports Washington last week. They’re also no stranger to Sinclair – last year, the bank worked with the company to raise $250 million for the direct-to-consumer product that eventually launched as Bally Sports+ this summer.
Ourand detailed why the banks were hired, noting they were……..
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Rising Dough
Three years after purchasing the RSNs from Disney, why is Sinclair putting together a group of investment banks to sell them possibly? Explain if this was a wise purchase by Sinclair and what changed of these past three years of ownership.
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