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.
