Warner Bros-Discovery, the parent company of regional sports provider AT&T Sportsnet, has announced its intent to leave the regional sports network business within a few weeks, according to the Wall Street Journal. That could leave fans of the Pirates and Penguins without a regional TV home.
A letter sent to teams on Friday warned that “the business would not have sufficient cash to pay the upcoming rights fees.” The letter proposed that “AT&T Sportsnet transfer ownership of the networks and programming rights to the teams for no purchase price consideration beyond a release by the teams of any future claims against the networks.”
If that does not happen, Warner Bros.-Discovery suggested that the networks could file for Chapter 7 Bankruptcy.
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