Diamond Sports Group, LLC (“DSG,” “Diamond,” or the “Company”),
a subsidiary of Sinclair Broadcast Group, Inc. (Nasdaq: SBGI)
(“Sinclair”), announced the appointment of a new slate of directors
to oversee DSG in conjunction with the recent closing of a new $635
million facility to enable DSG to expand and strengthen its
operational platform including emerging opportunities in the
direct-to-consumer (“DTC”) sports streaming space.
The new Board will consist of seasoned executives from the
worlds of sports, media, streaming and related industries. Chris
Ripley, the Chief Executive Officer of Sinclair, will serve on the
board and lead Sinclair’s efforts in enhancing the prospects for
DSG. The incoming chairman, Randy Freer, a Harvard Advanced
Leadership Fellow, is the former CEO of Hulu and previously was
President and COO of Fox Networks Group and long-time co-President
of Fox Sports Media. Freer will bring to bear his decades of
experience in sports media and, more recently, developing a leading
streaming business, to assist DSG in its transition to a premier
player in sports streaming. David Preschlack, most recently
President of NBC Sports Regional Networks, has more than 20 years
of experience at NBC, Disney, and ESPN in the sports marketing
arena and possesses deep knowledge of the challenges and
opportunities facing regional sports networks, and has familiarity
with sports gaming industry developments. Maryann Turcke, a senior
adviser to NFL Commissioner Roger Goodell, and formerly the Chief
Operating Officer of the National Football League, a senior
executive for Bell Media and a member of the boards of Royal Bank
of Canada and Frontier Communications, will bring her substantial
experience at the intersection of media, sports, and telecom to
help DSG capitalize on its plans. Bob Whitsitt, previously a Senior
Executive in both the NBA and the NFL, has over 30 years of
experience in multiple sports industries and business operations,
as well as deep relations with team leagues and owners.
The new five-member Board became effective May 1, 2022, at which
time they replaced the existing three-member Board consisting of
David Dunn, Jason Pappas, and Steve Rosenberg, and will help direct
DSG’s efforts in launching its recently announced direct to
consumer streaming business and oversee the existing linear
broadcasting business. Outgoing chairman, David Dunn, will serve as
a special adviser to the board for a period of time to ensure a
smooth transition in responsibilities.
Chris Ripley commented, “I am excited to announce this team of
highly qualified and talented leaders, with diverse backgrounds and
long histories of excellence in sports, media, direct-to-consumer,
and technology. The relationships they bring with DSG’s sports team
and league counterparties, as well as distributors and advertisers,
should add immeasurably to DSG’s prospects. Their collective
expertise will be invaluable to the successful execution of
Diamond’s strategy in the years to come, as it seeks to
revolutionize the way sports fans consume and interact with local
sports content. I would also like to thank our outgoing board
members for their service and guidance to get Diamond to this next
chapter.”
Ripley continued, “In the past couple of months, we have
successfully closed on Diamond’s new financing to fully fund our
business plan and successfully renewed programming with one of our
largest distributors. With these open items behind us and with this
impressive slate of independent directors, we are excited to focus
on the continued enhancement and evolution of our distribution
channels for this unique content offering. With the start of the
full Major League Baseball season, our Bally Sports RSNs opened to
strong TV audiences with household viewing impressions up versus
the same period last year. This should bode well for the DTC soft
launch of five RSNS with MLB teams later this quarter and then a
full DTC launch this September. While the DTC pricing will be
announced closer to going live, it is anticipated to have an
attractive price point as compared to other similar professional
sports DTC offerings.”
Freer commented, “I and my fellow directors look forward to the
challenge of helping DSG and Sinclair move forward to realize the
potential of DSG’s Bally Sports Networks. DSG is focused on
creating a fan, team and league-friendly modern direct-to-consumer
platform with capabilities that offers significant promise for the
future growth of local sports communities, fans, and consumer
engagement on all levels.”
Randy Freer currently serves as Chief Executive Officer of The
Freer Company, while also serving as Senior Advisor to McKinsey
& Company. He previously was Chief Executive Officer at Hulu
until 2020 and prior to that, spent 20 years with Fox Corporation.
He was Co-President and Co-Chief Operating Officer at Fox Sports
Media Group, as well as President and Chief Operating Officer at
Fox Networks Group. He began his career with Turner Broadcasting
System in various roles of increasing responsibility and scale,
followed by three years at an animation syndication firm, Active
Entertainment. Freer received his Bachelor’s from St. Joseph’s
College, studying Business and History.
David Preschlack most recently served as President of NBC Sports
Regional Networks and NBC Sports Group Platform and Content
Strategy. In this role, he oversaw nine big-market regional sports
networks and managed relationships with major professional sports
leagues. Before his tenure with NBC Sports, he had a twenty-year
career with Disney and ESPN, where in his last role he was
Executive Vice President of Affiliate Sales and Marketing.
Preschlack received his Bachelor’s degree from Denison University
in Economics.
Maryann Turcke currently serves on various boards and as
strategic advisor to global organizations. She had an illustrious
career with Bell Media followed by four years with the NFL. She
served as the Chief Operating Officer with the NFL and, before
that, led NFL Media from its LA headquarters. Turcke received her
Bachelor’s, as well as her MBA, from Queen’s University, and her
Master’s from University of Toronto. She has been named one of
AdWeek’s top 50 women in Sports and was also named Woman of the
Year by Women in Communications and Technology.
Bob Whitsitt has over 30 years of experience in the sports
industry, including as a Senior Executive in both the NBA and the
NFL, covering business operations and player personnel. He
previously served as President and General Manager of the Portland
Trailblazers, as well as the Alternate Governor in representing the
franchise at NBA owners’ meetings for nine years and Seattle
Supersonics for eight seasons. During his nine-year tenure as the
NFL’s Seattle Seahawks President, he negotiated Paul Allen’s
acquisition of the franchise and served as his representative at
league owners’ meetings. He has also served as President of
Seahawks’ stadium, Trailblazers’ arena, Rose City Radio, Action
Sports Media, and the WNBA Portland Fire. He was the Chief Sports
Advisor for Wildcat Capital Management assisting in its efforts to
construct a new arena in Seattle and its launch of the Seattle
Kraken NHL expansion franchise. Whitsitt is an attorney, licensed
to practice law in the State of Washington.
Chris Ripley has served as President & Chief Executive
Officer of Sinclair Broadcast Group since January 2017. From April
2014 to January 2017, he served as Chief Financial Officer. Prior
to Sinclair, Mr. Ripley was a managing director at UBS Investment
Bank’s Global Media Group and served as head of the Los Angeles
office where he managed, advised, and structured various financings
and merger and acquisition transactions in the broadcast and
entertainment sectors. Prior to UBS, Mr. Ripley was a principal in
Prime Ventures and an analyst at Donaldson Lufkin & Jenrette.
Mr. Ripley graduated from the University of Western Ontario,
Richard Ivey School of Business, with a Bachelor of Arts in Honors
Business Administration. Mr. Ripley serves as a Director of Curio
Wellness.
About Diamond Sports
Group
Diamond Sports Group LLC, a subsidiary of Sinclair Broadcast
Group, Inc., owns the Bally Sports Regional Sports Networks (RSNs),
the nation’s leading provider of local sports. Its 19
owned-and-operated RSNs include Bally Sports Arizona, Bally Sports
Detroit, Bally Sports Florida, Bally Sports Great Lakes, Bally
Sports Indiana, Bally Sports Kansas City, Bally Sports Midwest,
Bally Sports New Orleans, Bally Sports North, Bally Sports Ohio,
Bally Sports Oklahoma, Bally Sports San Diego, Bally Sports SoCal,
Bally Sports South, Bally Sports Southeast, Bally Sports Southwest,
Bally Sports Sun, Bally Sports West, and Bally Sports Wisconsin.
The Bally Sports RSNs serve as the TV home to more than half of all
MLB, NHL and NBA teams based in the United States. Diamond Sports
Group also has a joint venture in Marquee, the home of the Chicago
Cubs, and a minority interest in the YES Network, the local
destination for the New York Yankees and Brooklyn Nets. Diamond
RSNs produce approximately 5,000 live local professional telecasts
each year in addition to a wide variety of locally produced sports
events and programs each year.
About Sinclair Broadcast Group,
Inc.
Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) is a diversified
media company and a leading provider of local sports and news. The
Company owns and/or operates 21 regional sports network brands;
owns, operates and/or provides services to 185 television stations
in 86 markets, owns multiple national networks including Tennis
Channel and Stadium; and has TV stations affiliated with all the
major broadcast networks. Sinclair’s content is delivered via
multiple platforms, including over-the-air, multi-channel video
program distributors, and digital and streaming platforms NewsOn
and STIRR. The Company regularly uses its website as a key source
of Company information which can be accessed at www.sbgi.net.
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