In a bankruptcy scenario, a buyer of the RSNs also could decide to reject existing broadcast rights contracts that are too expensive and arrange for cheaper deals, sources said. With some teams getting up to 30% of their revenue from RSN rights, a prospective bankruptcy could hit team payrolls, insiders claimed.
...
It has been a rough ride downhill since. Sinclair’s Diamond reported Aug. 30 that full year Ebitda, or earnings before interest, taxes, depreciation and amortization, would fall to between $183 million and $200 million.
Meanwhile, Diamond has $8.5 billion of debt and pays about $450 million in annual interest payments so it is spending double what it makes on just the interest on its junk-rated debt. The most junior debt is now trading at around 20 cents on the dollar.
...
It has been a rough ride downhill since. Sinclair’s Diamond reported Aug. 30 that full year Ebitda, or earnings before interest, taxes, depreciation and amortization, would fall to between $183 million and $200 million.
Meanwhile, Diamond has $8.5 billion of debt and pays about $450 million in annual interest payments so it is spending double what it makes on just the interest on its junk-rated debt. The most junior debt is now trading at around 20 cents on the dollar.
![[-]](https://www.mavsboard.com/images/collapse.png)