Sinclair Lines Up NBA and $600 Million for New Streaming App
- Diamond said to be nearing loan for regional sports networks
- The struggling subsidiary gets a boost from NBA digital rights
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Sinclair Broadcast Group Inc.’s sports network unit is close to clinching deals to carry National Basketball Association games on its new streaming service and $600 million of financing to support the launch later this year.
The new loan for Diamond Sports Group’s venture could be announced along with local NBA streaming rights as soon as next week, according to people with knowledge of the matter. Diamond expects to roll out the offering in the first half of 2022, which will expand on its existing streaming service for regional TV subscribers, according to one of the people. They asked not to be identified discussing confidential negotiations.