SBGI - Why Local Sports And News Provider Sinclair Shares Are Jumping Today | Benzinga
Sinclair, Inc. (NASDAQ:SBGI) has reached a preliminary agreement to settle the lawsuit filed by Diamond Sports Group, LLC (DSG) and its subsidiary Diamond Sports Net, LLC in July 2023.
DSG will retract its $1.5 billion claim against Sinclair and other defendants as part of the settlement. In return, Sinclair will make a $495 million cash payment to DSG.
The settlement is subject to definitive documentation, including the finalization of certain transition terms and approval by the U.S. Bankruptcy Court overseeing DSG’s Chapter 11 case.
The amount is ...