Hulu LLC dropped coverage of regional sports networks provided by Sinclair Broadcast Group Inc Diamond Sports, another setback for the struggling and debt-laden service
« We have not been able to secure a deal with Sinclair Broadcast Group to continue offering channels such as Fox Sports RSN, YES Network and Marquee Network, » Hulu said in a message to subscribers Thursday, which was reviewed by Bloomberg The termination takes effect Friday, with Hulu continuing to provide sports coverage from other channels including ESPN, TNT and TBS, he said
« Although we offered Hulu a deal on terms agreed to by other distributors, the streaming service refused to accept these fair and market-based terms, » said Barry Faber, president of the distribution and network relations of Sinclair, in a press release sent to Bloomberg « It’s unfortunate that Hulu has chosen to take some of the most popular shows on TV away from millions of subscribers, especially since Hulu has promised its subscribers to stream live sports »
Hulu did not respond to messages Senior tickets issued by Diamond Sports set an intraday record low of 63 cents to the dollar on Thursday
Sinclair bought Diamond Sports from Walt Disney Co in 2019 for $ 9.6 billion and funded the deal with junk bonds, only to see them crumble to troubled levels as the company struggled to sign deals with carriers Sinclair said more than $ 12 billion in debt in its second quarter release, including nearly $ 8 billion related to Diamond Sports
More damage piled up when the Covid-19 pandemic temporarily cut off most live sports, leaving almost no games for its 23 networks to be televised Diamond’s broadcast rights portfolio includes Major League Baseball , the National Basketball Association and the National Hockey League
Hulu’s move is the latest blow for Sinclair and Diamond, who have lost deals with pay-TV distributors in recent weeks.Last month, Sinclair said YouTube TV would no longer broadcast its regional sports networks after companies failed to secure a distribution agreement The company said it will continue talks in hopes of reaching a deal with YouTube
« The loss of transportation on YouTube TV adds to the list of struggles regional sports networks in general have with the overkill, » said Mike Campellone, analyst at Bloomberg Intelligence at the time of the announcement.
Hulu, Regional Sports Network, YouTube TV, Sinclair Broadcast Group, Fox Sports Networks, Chicago Cubs, YES Network
World News – United States – Hulu abandons Sinclair’s Regional Sports Networks in the last shot
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