Sinclair Broadcast Group is buying the Tennis Channel, paying $350 million for the network.
Sinclair is the USA’s biggest local broadcaster, and will benefit from the now inherited losses of some $200 million that come with the Tennis Channel.
The buyer had been in talks since last September with Tennis Channel’s majority owners which include Apollo Global Management and Bain Capital, as well as smaller shareholders DirecTV and Dish Network.
The Tennis Channel has TV rights to some 90 per cent of all televised tennis in the US. The deal is subject to regulatory approval and is expected to close during Q2.