Former Tennis Channel CEO sues Sinclair, reveals buyers offered more than $1B for network

Former Tennis Channel CEO Ken Solomon is reportedly suing his former network and its parent, Sinclair Broadcasting Group, along with several Sinclair executives.

According to the lawsuit first reported by Joe Flint of The Wall Street Journal, Solomon claims he was wrongfully terminated by Sinclair in part based on his role at the then-fledgling (and now bankrupt) Merit Street Media, the media company owned by television personality Dr. Phil McGraw. At the time of his ouster, Sinclair claimed Solomon’s firing was for “cause,” which the former Tennis Channel CEO disputes. In Solomon’s estimation, he was fired so Sinclair could avoid paying him earned compensation and bonuses.

Perhaps more relevant than the personal grievances of Solomon are some of the details he shared about Tennis Channel’s business within the lawsuit. In his initial complaint, as reported by Rob Schaefer in Sports Business Journal, Solomon outlines that Sinclair had directed him to explore a sale process of Tennis Channel in 2023. That search returned multiple purchase offers which valued Tennis Channel at over $1 billion, nearly three-times the $350 million figure Sinclair purchased the network for in 2016. However, those offers were all rejected by Sinclair Chairman David Smith.

Recent reports have indicated that Tennis Channel could, again, be ripe for a transaction. Sinclair is reportedly exploring a split or spinoff of its “ventures” division which includes Tennis Channel. Should such a restructuring occur, Tennis Channel would be an attractive asset to any number of potential suitors. Solomon’s lawsuit, and the purported valuations of Tennis Channel cited within it, are further evidence that the network, and its extensive suite of live tennis rights, would be of significant value to companies trying to make live sports part of their portfolio.