Diamond Sports Group, a subsidiary of Sinclair Broadcast Group and operator of the Bally Sports Networks, has hired Porter Hedges, Paul Weiss and Wilmer Cutler to lead the company through Chapter 11 bankruptcy and restructuring.
Diamond filed for bankruptcy in Houston Tuesday citing $8 billion of debt. The case was assigned to Judge Christopher Lopez, who joined the Southern District of Texas complex bankruptcy panel on Jan. 1.
Diamond selected AlixPartners to serve as the company’s restructuring advisor. LionTree Advisors LLC and Moelis & Company LLC are Diamond’s investment bankers.
The case No. is 23-90116.