Diamond Sports, which owns 21 regional sports networks mostly under the Bally Sports brand, has as much as $8 billion in operating debt.
"The site has been tied to buyers before, including The New York Times and Axios, but those deals fell through before pen went to paper."
"The company projects itself to be profitable in 2023 with a revenue projection of $153 million."
"The Athletic boasts 1.2 million subscribers and had previously been in talks to merge with Axios or The New York Times, but those deals fell through."