Warner Bros. Discovery has told teams that it plans to exit the regional sports network business entirely within the next several weeks. The company, which operates three AT&T SportsNet -branded channels in Denver, Houston and Pittsburgh and has a minority stake in the Root Sports channel in Seattle, has told teams that they have until March 31 to reach an agreement to take their rights back. If the RSNs can’t reach deals with the teams, the channels eventually plan to move forward with a Chapter 7 liquidation filing. In a statement provided to SBJ, WBD said, “AT&T SportsNet is not immune to the well-known challenges that the entire RSN industry is facing. We will continue to engage in private conversations with our partners as we seek to identify reasonable and constructive solutions.” WBD sent letters to the leagues and teams this afternoon informing them of their plans to divest their interest in those four RSNs. WBD has rights deals with 10 teams across those four networks: four MLB teams ( Astros , Mariners , Pirates , Rockies ), three NBA teams ( Blazers , Jazz , Rockets ) and three NHL teams ( Kraken , Penguins , Golden Knights […]
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