While much of the attention paid to Sinclair in recent years has been focused on its purchase, ownership, and bankruptcy of the Bally Sports RSNs, the company also owns Tennis Channel. And after a positive year for the network in 2023, Sinclair is now conducting a “strategic review” on Tennis Channel.
Per Front Office Sports, Sinclair could potentially add an equity partner for Tennis Channel, and has brought on investment bank Moelis & Co to seek out partners.
FOS reports that either a joint venture or an equity agreement is a more likely result than Sinclair completely selling the network, and that Sinclair will likely still be involved in the distribution of the channel.
In 2023’s third quarter, Sinclair’s tennis segment (which includes not only Tennis Channel, but also Tennis.com and Tennis Channel’s streaming operations) saw its revenue rise 9 percent, up to $59 million. It also saw its operating income jump 18 percent to $13 million.
Sinclair has owned Tennis Channel since 2016. They paid $350 million for the network at that time. A year later, the company added the Tennis Media Company, which includes Tennis.com and the Tennis magazine. (The magazine was shuttered at the end of 2022). Now, they’re looking to see if they can get some outside investment in the property.
About Joe Lucia
I hate your favorite team. I also sort of hate most of my favorite teams.