variety.com
and
pressure
Endeavor, Live Nation and Sinclair Face Debt Pressure From Coronavirus Shutdowns
Reading now: 631
variety.com
variety.comEndeavor, Live Nation Entertainment and Sinclair Broadcast Group are among the prominent industry firms facing new financial pressure because of their high debt loads and vulnerability from the widespread shutdown of sports leagues, concerts and other live events.
The timing of Sinclair Broadcast Group’s $9.6 billion acquisition of 21 regional sports networks from Disney could not have been worse given the unforeseen sports blackout.
Moody’s Investors Service, one of the three major credit rating agencies, flagged the problem from sports-related shutdowns in a research note issued Tuesday.
An extended shutdown could be brutal for companies that don’t have diversified operations. “Major U.S. media (companies) will delay or lose valuable
Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.