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Diamond Sports Group Files $8B Restructuring in SDTX

March 15, 2023 Mark Curriden

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.

First day documents were filed by Porter Hedges partners John Higgins and Michael Shane Johnson of Houston. No lawyers for Paul Weiss or Wilmer Cutler have been identified.

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.

Mark Curriden

Mark Curriden is a lawyer/journalist and founder of The Texas Lawbook. In addition, he is a contributing legal correspondent for The Houston Chronicle and the Dallas Business Journal.

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