Bally Sports RSNs Are Reportedly Preparing For Bankruptcy

[Bruce]

Only problem, and it's a really big one, is Comcast is not a broadcaster, it's a cable company which means if you don't have, or have access to, Comcast cable (or one of it's affiliates) you can't watch the games.

Comcast is very much a broadcaster and has been for years, they own NBC and some NBC Broadcast Stations-NBC Owned Station markets: New York (WNBC), Los Angeles (KNBC), Chicago (WMAQ), Philadelphia (WCAU), Dallas-Ft. Worth (KXAS), Bay Area, CA (KNTV), Washington, DC (WRC), Boston (WBTS), Miami (WTVJ), San Diego (KNSD), Hartford (WVIT).

Then the Cable Channels-USA, SyFy, Bravo, NBC Sports, CNBC, MSNBC, etc.

And of course the Flyers and it’s RSN.

 

[Don in CT]

Contraction won’t happen when the league wants to expand even further. Maybe teams move cities but I don’t expect any teams to be disbanded.

 

[dishdude]

So Sinclair spun this off, bankrupt it and now wants to buy it back out of bankruptcy? Unbelievable!

Sinclair Broadcasting wants to scoop up bankrupt RSN giant Diamond Sports: sources

Sinclair Broadcasting Group wants to pay pennies on the dollar to regain control of a nationwide chain of regional sports networks — which it had paid $10.6 billion to acquire four years ago …

nypost.com

 

[Bruce]

So Sinclair spun this off, bankrupt it and now wants to buy it back out of bankruptcy? Unbelievable!

Sinclair Broadcasting wants to scoop up bankrupt RSN giant Diamond Sports: sources

Sinclair Broadcasting Group wants to pay pennies on the dollar to regain control of a nationwide chain of regional sports networks — which it had paid $10.6 billion to acquire four years ago …

nypost.com

Actually, the spin off still has to be approved by the Bankruptcy Court/Judge, which makes this more incredible that Sinclair could get away with this.

To be honest, might be the only way to save the RSNs for now, they would have Sinclair’s money to prop them up and there is not another white knight coming in to save them.

The RSNs still only have about two years at the most, especially Ballys, since only Comcast, Charter and DirecTV carries them, then a few smaller companies and YTTV, Dish, Hulu, Sling do not, that is about 20 Million per sub fees they do not get.

 

[DirecTVFanSince2016]

since only Comcast, Charter and DirecTV carries them

Fubo and COX also carry them

 

[Bruce]

Fubo and COX also carry them

I know that, hence why I wrote-then a few smaller companies.

But neither add up to much, Cox is about 2.5 Million and Fubo is 1.477 Million, not even 4 Million together, YTTV alone is over 6 Million.

Also Cox is making plans to get out of Video, go broadband only, which will make them a more profitable company.

 

[SamCdbs]

You keep writing that like it is a bad thing.

Because its a bad thing. Because the RSN, or sports generally, is not the only thing going away. Most everything is going away. In fact, the RSN is actually one, if not the, most popular single things on TV under the wonderful, consumer protecting, bundle model. No one thing, NOTHING, is popular enough to recoup its costs and thus justify its production.

So we see the dark, anti-consumer, future. Endless reruns, cheaply acquired foreign shows, estrogen soaked melodramas (the cheapest type of show to make), and more reruns. All in deeply overlapped mini-bundles (e.g. same show is Hulu as is on Paramount, so if you want something that is only on Hulu and something that is only on Paramount, you pay for the overlapped material twice). An anti-consumer wasteland.

Dark, anti-consumer, and unentertaining.

Enjoy Hogan's Heroes.

 

[DirecTVFanSince2016]

Enjoy Hogan's Heroes.

I hate to be like this, but can you stop with the Hogan's Heroes? It's getting old.

 

[dishdude]

I hate to be like this, but can you stop with the Hogan's Heroes? It's getting old.

His entire shtick is getting old.

 

[Ronnie-]

Some discussion and differing opinions are kind of what makes the whole forum work, but as far as I can tell there is a healthy dose of trolling mixed in with some, and its old.

Soooo, that said, some temporary thread reply removals is the starting point. Which leaves further steps on the table.

 

[DirecTVFanSince2016]

It's the 6th time he's mentioned that show in this thread (yes, I searched and counted).

 

[Bruce]

His entire shtick is getting old.

I am starting to feel like I am being stalked.

Went after me again in the World Series with the same routine.

I believe strongly in the 1st, he has a right to speak, but I just will not listen, only the second person I have put on ignore.

Juan was the first, took him off, that was my mistake.

 

[comfortably_numb]

So we see the dark, anti-consumer, future

I see a bright, consumer friendly future

 

[savarese04]

Looks like the NBA (and soon to be NHL) reached an agreement to kill their Bally Sports contracts after this season. Some of the agreements ran until 2030. No more.

Bally Sports & The NBA Reach A One Year Deal To Avoid Chaos | Cord Cutters News

Today, Bally Sports and the NBA announced a deal that will keep NBA games on the RSNs. This deal will avoid what could have resulted in multiple NBA teams leaving Bally Sports midseason. The interesting part of this deal, though, is it is only for one season. “Our newly-signed agreements with...

cordcuttersnews.com

 

[Bruce]

Looks like the NBA (and soon to be NHL) reached an agreement to kill their Bally Sports contracts after this season. Some of the agreements ran until 2030. No more.

Bally Sports & The NBA Reach A One Year Deal To Avoid Chaos | Cord Cutters News

Today, Bally Sports and the NBA announced a deal that will keep NBA games on the RSNs. This deal will avoid what could have resulted in multiple NBA teams leaving Bally Sports midseason. The interesting part of this deal, though, is it is only for one season. “Our newly-signed agreements with...

cordcuttersnews.com

I do not know why a judge will even give them another year, not much of a plan to get them out of Chapter 11.

 

[savarese04]

I do not know why a judge will even give them another year, not much of a plan to get them out of Chapter 11.

They really aren't getting a year though, it's until the end of this NBA season, which runs until mid-April (playoffs move to national networks). Diamond held rights until 2030 in some cases, but now, they all expire in April. I don't quite get why you would do this deal if you're Diamond (unless the rights fee is substantially smaller) because if you're trying to pretend you're a going concern, giving your largest customer a guaranteed opt out in 6 months feels like a bad move.

As a judge, I imagine you let them shoot themselves in the foot because this just accelerates the timeline to get this off your docket?

 

[Bruce]

They really aren't getting a year though, it's until the end of this NBA season, which runs until mid-April (playoffs move to national networks). Diamond held rights until 2030 in some cases, but now, they all expire in April. I don't quite get why you would do this deal if you're Diamond (unless the rights fee is substantially smaller) because if you're trying to pretend you're a going concern, giving your largest customer a guaranteed opt out in 6 months feels like a bad move.

As a judge, I imagine you let them shoot themselves in the foot because this just accelerates the timeline to get this off your docket?

Except the end of the NBA Season rolls right past the first almost 2 weeks of MLB, then NHL Regular Season ends on April 18.

I would assume they then will try and finish up with the MLB to get a full year of rights fees.

Also depends on contracts also with providers, the end date, we know that Charter’s deal expires in February 2024, DirecTV and Comcast also in 2024, but what month?

What a ******* mess.

 

[DirecTVFanSince2016]

DirecTV and Comcast also in 2024, but what month?

October

 

[Bruce]

October

So they need Charter to extend to October, if no, the whole plan will be done for.

Charter will really have them by the *****, Diamond cannot lose them because of the 14 Million subscribers Spectrum has, but Charter knows that, so will want a better deal regarding the per sub fees, which Diamond cannot afford to give, then DirecTV and Comcast will want a better deal also.

Such a mess.

 

[Bruce]

Well, I would recommend Diamond’s Lawyers not using Bally Sports+ subscription numbers as a reason to come out of Chapter 11.

Nearly 66% of users who sign up for Bally Sports Plus cancel their subscription within six months, according to new research published by Antenna.

And at its peak, the research company said, the regional sports network's $20-a-month direct-to-consumer streaming service had only around 97,000 customers nationally.

Bally Sports Plus Subscribers Acquired Via Third-Party Apps Peaked at Only Around 97K; DTC Service Had High 66% Six-Month Churn Rate: Research Report (Updated)

New data from Antenna explains why the direct-to-consumer streaming service hasn’t been the salve for the bankrupt regional sports network's linear woes

www.nexttv.com