The regional sports subsidiary of the Sinclair Broadcast Group has hired two investment banks that are active in sports media deals, according to a recent report. Last week, the Sports Business Journal said executives at Sinclair’s Diamond Sports Group think the hiring of the two investment banks — LionTree LLC and Moelis & Co. — may suggest that the broadcaster is interested in divesting its regional sports business.
Even if you don’t know his name, you’re familiar with the megadeals — from WarnerMedia’s merger with Discovery to Amazon’s purchase of MGM — that the LionTree investment banker has helped engineer: “He’s a face-to-face guy. He gets that this business is about connection.”
Viacom has hired Morgan Stanley and LionTree to review its capital structure, a source familiar with the situation said on Wednesday, as the media company seeks ways to shore up its finances in the face of falling advertising sales. The review is a short-term assignment, said the source, who was not authorized to speak publicly about the matter and requested anonymity.