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Sinclair Broadcasting Group is losing platforms for its regional sports networks quickly. Hulu is the latest platform to drop the RSNs — which include regional Fox Sports networks and YES — joining DISH, FuboTV and YouTube TV in the trend.
Much of the fleeing can be attributed to the high costs of carrying the RSNs. Comcast did agree to extend its deal with Sinclair, with CEO Chris Ripley saying 85% of subscribers are tied in for at least two more years.
Still, Sinclair’s stock has plummeted — down 41% year-to-date — and its sports business, Diamond Sports Group, is working on a possible restructuring of an $8 billion debt load. Diamond’s revenue was down 38% year-over-year in the second quarter to $616 million.
Notable Earnings Reports This Week:
10/27 — Big 5 Sporting Goods, Microsoft
10/28 — Six Flags Entertainment
10/29 — Activision Blizzard, Alphabet, Amazon, Apple
10/30 — Under Armour
This article is sponsored by Public.com. This is not investment advice. See Public.com/disclosures.
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