Sinclair Announces Partial Redemption of Diamond Sports Holdings Preferred Units

Sinclair Announces Partial Redemption of Diamond Sports Holdings Preferred Units

BALTIMORE (August 19, 2020) – Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) (NASDAQ: SBGI) announced today that Diamond Sports Holdings LLC (“DSH”), an indirect subsidiary of the Company, has redeemed 350,000 of its Preferred Units (such units, the “Redeemed Preferred Units”) using cash dividends from DSH’s indirect subsidiary, Diamond Sports Group, LLC. In accordance with the terms of the Amended and Restated Limited Liability Company Agreement of Diamond Sports Holdings, the Redeemed Preferred Units were redeemed for an aggregate redemption price equal to $350,000,000, representing 100% of the unreturned capital contribution with respect to such Redeemed Preferred Units, plus $3,850,000 in accrued and unpaid dividends, with respect to such Redeemed Preferred Units up to, but not including, the redemption date, for a total redemption amount of $353,850,000. After giving effect to the partial redemption, 175,000 Preferred Units of Diamond Sports Holdings remain outstanding.

Read more…SBG – Diamond Preferred Redemption PR August 2020 Final

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