Warner Bros. Discovery Inc. wants to stop running the business that oversees three regional sports TV channels that air games for professional teams in...
Warner Bros. Discovery Inc. WBD wants to stop running the business that oversees three regional sports TV channels that air games for professional teams in Colorado and Utah, as well as Pittsburgh and Houston, the Wall Street Journal reported on Friday. The Journal said an executive from that business told the sports teams that bankruptcy was an option for the business, and that “the business will not have sufficient cash to pay the upcoming rights fees,” and that Warner Bros.
The Journal said an executive from that business told the sports teams that bankruptcy was an option for the business, and that “the business will not have sufficient cash to pay the upcoming rights fees,” and that Warner Bros. Discovery “will not fund our shortfalls.” “Unless we can reach a deal to transfer ownership of the network ” by March 31, “our only realistic option is to file for chapter 7 liquidation,” the letter said, according to the Journal.
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