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Sinclair’s Sports Networks Start Formal Creditor Debt Talks

  • Diamond Sports asks creditors to sign NDAs for negotiations
  • Broadcaster received proposals from secured, unsecured groups
Updated on

Creditors to Sinclair Broadcast Group Inc.’s troubled sports networks are signing non-disclosure agreements to prepare for negotiations on easing the unit’s $8 billion debt load, according to people with knowledge of the matter.

The unit, Diamond Sports Group LLC, has invited creditors holding its secured and unsecured debt to begin formal talks, during which they would get private financial information and be restricted from trading securities, said the people, who asked not to be identified discussing confidential matters.