By Reuters Staff
(Reuters) – Sinclair Broadcast Group Inc SBGI.O said on Wednesday it had partnered with sports betting company and casino operator Bally’s Corp BALY.N and was rebranding its 21 Fox regional sports networks under the Bally name.
Under the deal, Sinclair said it would take a 14.9% stake in Ballys and would have the right to raise its stake by another 10% if it meets certain financial targets.
Ballys will gain marketing access across Sinclairs 190 television stations, the two companies said in a joint statement.
Sinclair acquired 22 Fox regional sports networks, including Fox College Sports, in 2019 from Walt Disney Co DIS.N for $9.6 billion, a deal which cleared the way for Disney’s purchase of Twenty-First Century Fox Inc’s film and television assets. bit.ly/2IFctcZread more
Sinclair to rebrand 21 Fox regional sports networks under Bally name – Reuters
