Sinclair Announces Partial Redemption of Diamond Sports Holdings Preferred Units
BALTIMORE (December 16, 2019) – On December 13, 2019, Diamond Sports Holdings LLC (“DSH”), an indirect subsidiary of Sinclair Broadcast Group, Inc. (“Sinclair”), elected to redeem 300,000 of its Preferred Units (such units, the “Redeemed Preferred Units”) using cash dividends from DSH’s indirect subsidiary, Diamond Sports Group, LLC, and as previously discussed on Sinclair’s November 2019 third quarter earnings conference call. 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 $301,872,333, representing 100% of the unreturned capital contribution with respect to such Redeemed Preferred Units, plus accrued and unpaid dividends with respect to such Redeemed Preferred Units up to, but not including, the redemption date, and after giving effect to any applicable rebates. After giving effect to the partial redemption, 725,000 Preferred Units of Diamond Sports Holdings remain outstanding. The window for redemption of the Preferred Units at a redemption price equal to 100% of the unreturned capital contribution plus accrued and unpaid dividends with respect to such Preferred Units began on November 22, 2019 and will continue through February 19, 2020, and DSH may redeem additional Preferred Units on or prior to February 19, 2020. Subsequent to February 19, 2020, DSH will be permitted to redeem Preferred Units at the then applicable call premium specified in its Limited Liability Company Agreement plus accrued and unpaid dividends.
Read more…SBG – Diamond Preferred Redemption PR FINAL
Sinclair Announces Partial Redemption of Diamond Sports Holdings Preferred Units
RECENT NEWS RELEASES
- June 22, 2022
- Sinclair Broadcast Group Names Robert Croteau Vice President/General Manager of WRGB and WCWN in Albany, NY
- June 20, 2022
- Chris Daniels to Join Sinclair Broadcast Group’s “Spotlight on America” Investigative Team
- June 15, 2022
- COMET, CHARGE! and TBD Multicast Networks Secure Nationwide Affiliate Growth and Add New Series to Primetime and Late Night Schedules, Driving Strong Increases in Viewership
- Sinclair Names Adam Ware Senior Vice President, Growth Networks Group
- June 9, 2022
- Sinclair Elects Board And Ratifies Independent Auditor
- June 2, 2022
- Major Broadcasters Launch NextGen TV On Five Local Television Stations In Greenville, SC
- June 1, 2022
- Sinclair Broadcast Group and Feeding America® Launch Sinclair Cares: Summer Hunger Relief
- May 31, 2022
- Sinclair Broadcast Group Wins 22 RTDNA Regional Edward R. Murrow Awards
- May 25, 2022
- Sinclair Broadcast Group Wins Four Telly Awards
- May 23, 2022
- Diamond Sports Group Names Michael Schneider Chief Operating Officer and General Manager of Bally Sports Direct-to-Consumer Business