Finance & Law
Diamond to cut ties with Bally’s as part of re-organisation plan
Diamond Sports Group, the owner and operator of 19 regional sports networks (RSNs) in the United States, has submitted its official re-organisation plan to the Houston court overseeing its Chapter 11 bankruptcy…
MCO ‘essential’ to grow women’s football revenues, Mercury 13 set for first deal
Multi-club ownership (MCO) in women’s football is a necessity to growing the overall quality of the game and, eventually, commercial revenues, according to two leading protagonists.
Coe: World Athletics holding talks with global investment funds
Investment conversations that continue to be held by World Athletics are with global players and are being sparked by ongoing revamps to the sport to maintain its audience engagement, according to Sebastian…
Paramount+ subs up to 67.5m, total revenue dips 6 per cent
Paramount Global's streaming service Paramount+ added 4.1 million new subscribers in the fourth quarter, raising the platform's total to 67.5 million subscribers at the end of 2023 as the company's overall revenue dipped six per cent year-over-year for the quarter.
Las Vegas Grand Prix boosts Formula 1’s financials
Formula 1 has seen its annual revenue grow to $3.22bn (€2.97bn), with the impact of its new Las Vegas Grand Prix particularly impacting its fourth quarter results as operating income rose by 164 per cent year-on-year.
Reliance, Disney Star agree $8.5bn India media mega-merger
Disney Star and Reliance Industries, majority owner of Viacom18, today announced the merger of their Indian television and streaming assets, creating an $8.5bn media behemoth.
Diamond Sports refinancing approved, puts NHL, NBA plans at risk
A US bankruptcy court has approved Diamond Sports Group's $495m (€456m) settlement from Sinclair and $450m debtor-in-possession (DIP) financing package, but plans of the National Hockey League and National B…
WWE swells revenues but Endeavor results hit by legal costs, write-offs
Endeavor, the sports and entertainment conglomerate, is continuing to explore "strategic alternatives” for its publicly listed stock, and as a result will provide no 2024 financial guidance it revealed today (Wednesday).
Joint UFC-WWE revenues hit $1.7bn, net income falls 54 per cent
TKO Group Holdings, the Endeavor-owned public company created by the merger of Ultimate Fighting Championship (UFC) and World Wrestling Entertainment (WWE), has reported revenue for the 2023 financial…
DFL to roll out tender documents after cartel office no-single buyer ruling
The German Football League (DFL) has been given the green light to begin sending official domestic tender documents to interested media companies after the Bundeskartellamt, the cartel office, officially…
Canada Soccer board members hit with $30m legal challenge to CSB rights award
Current and former members of the Canada Soccer board have been hit with a C$40m ($29.6m/€27.4m) lawsuit over approving the 2018 award of a long-term media and sponsorship rights contract to Canada Soccer Business.
WBD’s Zaslav: New sports streaming bundle will make games easier to find
Warner Bros. Discovery's impending new sports streaming service with ESPN and Fox will put the power back in the consumer's hand, but will have little to no impact on the trio's cable subscriber numbers, WBD chief executive David Zaslav has declared.
Half of Sport1 sold to Turkey’s Acunmedya for €30m
Turkish media group Acunmedya has bought a 50-per-cent stake in German sports broadcaster Sport1 for €30m ($32.5m) following an agreement struck with owner Highlight Communications.
NRL ready to close gap on AFL in next rights deal after record 2023 revenues
Australasia's National Rugby League will find itself in its strongest-ever financial position when it comes to negotiate its next domestic media-rights deal, after reporting record revenues topping A$700m (€424m/$458m).
Viaplay ‘reset’ continues after SEK2.9bn Q4 loss closes turbulent year
Viaplay is to continue reducing its sports rights commitments, turning to sublicensing deals where possible to recoup fees, as part of its company-wide reset.
Sky NZ weighs up exclusivity balance amid rising subscriber costs
Sky New Zealand is considering an increased role for free-to-air coverage of sports events it acquires rights to, with the exclusivity balance to be “part of the conversation” during rugby rights negotiations lat…
DFL drops private equity investment plans amid fan revolt
Plans for private equity investment into the German Football League (DFL) have been abandoned for the second time in nine months, with seemingly no end in sight to the fan opposition that has disrupted…
Fubo files antitrust complaint over ESPN-Fox-WBD streaming JV
Fubo is suing Disney, Fox and Warner Bros. Discovery over their recently announced joint venture sports streaming platform, calling the move an "extreme suppression of competition in the US sports-focused streaming market", according to a copy of the lawsuit.