As you may have seen in the news recently, it’s looking like the company that runs Bally Sports is heading for bankruptcy. Instead of trying to explain what’s going on like I’m some business genius, I’ll let the people who actually know what they’re talking about do the explaining. Take it away, Bloomberg:
After leveraging up to buy regional sports networks from Walt Disney Co. in 2019, Diamond Sports Group LLC is suffering from a decline in cable-TV subscribers, spurring negotiations with creditors and major sports leagues about its viability as a going concern.