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Sinclair Announces Renewal of Its Extended Market and Digital Rights Agreement With the NBA
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Sinclair Broadcast Group (NASDAQ: SBGI) has renewed its agreement with the NBA for direct-to-consumer (DTC) and outer market distribution rights for 16 teams. This partnership allows Sinclair's Diamond Sports Group to stream live games on its Bally Sports Regional Networks, enhancing sports content accessibility for local fans. The teams involved include the Atlanta Hawks, Miami Heat, and San Antonio Spurs. Sinclair aims to launch a new DTC platform in 2022, promising personalized viewing experiences and expanding market reach.
Positive
Renewal of significant agreement with NBA enhances local market presence.
Direct-to-consumer streaming rights for 16 NBA teams boost potential subscriber growth.
Launch of a new DTC platform in 2022 may increase viewer engagement.
Negative
None.
Deal includes direct-to-consumer and outer market distribution rights for 16 NBA teams
BALTIMORE--(BUSINESS WIRE)--
Sinclair Broadcast Group (NASDAQ: SBGI) (“Sinclair”) announced today that its subsidiary, Diamond Sports Group (“DSG”), has renewed its extended market and digital distribution rights agreement with the National Basketball Association (NBA). Under the agreement, DSG’s Bally Sports Regional Networks are permitted to offer streaming content, including live games, on an authenticated and direct-to-consumer (DTC) basis, to the local territories of 16 NBA teams.
“We are excited about our continued partnership with the NBA which allows us to bring the league’s in-demand and exciting basketball content to local fans across multiple platforms,” said Chris Ripley, Sinclair Broadcast Group’s President and Chief Executive Officer. “Sinclair places the highest importance on connecting sports fans with live games and other sports content. We are looking forward to the launch of our DTC platform in 2022, ushering in a new era of local sports viewing with a more personalized and dynamic viewing experience.”
Teams included in the agreement are the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Dallas Mavericks, Detroit Pistons, Indiana Pacers, LA Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, New Orleans Pelicans, Oklahoma City Thunder, Orlando Magic, Phoenix Suns, and San Antonio Spurs.
About Sinclair Broadcast Group, Inc.
Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) is a diversified media company and a leading provider of local sports and news. The Company owns and/or operates 21 regional sports network brands; owns, operates and/or provides services to 185 television stations in 86 markets, owns multiple national networks including Tennis Channel and Stadium; and has TV stations affiliated with all the major broadcast networks. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital and streaming platforms NewsOn and STIRR. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net.
About Diamond Sports Group
Diamond Sports Group LLC, a subsidiary of Sinclair Broadcast Group, Inc., owns the Bally Sports Regional Sports Networks (RSNs), the nation’s leading provider of local sports. Its 19 owned-and-operated RSNs include Bally Sports Arizona, Bally Sports Detroit, Bally Sports Florida, Bally Sports Great Lakes, Bally Sports Indiana, Bally Sports Kansas City, Bally Sports Midwest, Bally Sports New Orleans, Bally Sports North, Bally Sports Ohio, Bally Sports Oklahoma, Bally Sports San Diego, Bally Sports SoCal, Bally Sports South, Bally Sports Southeast, Bally Sports Southwest, Bally Sports Sun, Bally Sports West and Bally Sports Wisconsin. The Bally Sports RSNs serve as the TV home to more than half of all MLB, NHL and NBA teams based in the United States and produce over 4,500 live local professional telecasts each year in addition to a wide variety of locally produced sports events and programs. Diamond Sports Group also has a joint venture in Marquee, the home of the Chicago Cubs, and a minority interest in the YES Network, the local destination for the New York Yankees and Brooklyn Nets.
