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FORUM TRANSCRIPT

Sinclair RSNs – Potential Bankruptcy Implications & D2C Model Headwinds – 18 November 2021

  • Credit
  • Multi Sector
  • North America
PREMIUM

Specialist

Current SVP at Octagon Inc

Agenda

  • Bankruptcy scenario analysis for Sinclair’s (NASDAQ: SBGI) Diamond Sports RSNs (regional sports networks), highlighting potential rights claims and implications for teams
  • Likelihood of remaining 10 MLB teams offering streaming rights for slated April 2022 D2C product launch
  • Pushback potential from the MVPDs (multichannel video programming distributors), MLB, NHL or NBA – potentially necessary recourse and risk of removal from basic cable packages
  • Sinclair’s value proposition as a long-term strategic partner to teams, highlighting alternatives for popular franchises
  • Downside risks, focusing on potential delays to D2C product release, uptake obstacles and possibility of MLB launching its own product

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