CHICAGO and BALTIMORE, April 13, 2017 /PRNewswire/ -- This afternoon, Sinclair Broadcast Group, Inc. (NASDAQ: SBGI), Silver Chalice and 120 Sports announced plans to combine forces as equity partners on a new multi-platform sports network, featuring a linear broadcast and comprehensive digital offerings.
The network will be built through the merging of 120 Sports' live studio operations, Silver Chalice's Campus Insiders' live collegiate games and Sinclair's American Sports Network's (ASN) distribution and live collegiate games. The overall programming offering will take advantage of the professional and collegiate rights enjoyed by 120 Sports and Silver Chalice to maximize access to a broad array of post-game highlights, up-to-the-moment news, and original, long-form programming as well as full game archives provided by various partners.
The existing linear network operated by ASN will be rebranded and improved. The broadcast component of the new, unified network, upon its launch scheduled for later this year, immediately will reach millions of homes on Sinclair-owned multicast channels, both over-the-air and in turn through carriage by multichannel video programming distributors (MVPDs). As viewer consumption habits evolve, the network will be well positioned to serve viewers with premium sports content on every screen.
"With this incomparable set of strategic partners, we are evolving ASN into a vastly improved network with access to exclusive content and a combined linear and premium OTT offering that is the model for the future of television," said Chris Ripley, President and CEO of Sinclair.
Additional announcements including a full programming schedule, new product offerings, network branding, distribution partners, sponsors and studio details will be made in the weeks ahead.
LionTree Advisors acted as exclusive financial advisor to 120 Sports and Silver Chalice on the transaction.
About Sinclair Broadcast Group
Sinclair is one of the largest and most diversified television broadcasting companies in the country. The Company owns, operates and/or provides services to 173 television stations in 81 markets, broadcasting 514 channels and has affiliations with all the major networks. Sinclair is the leading local news provider in the country, as well as a producer of live sports content.
Sinclair's content is delivered over multiple-platforms, including over-the-air, multi-channel video program distributors, and digital platforms. The Company regularly uses its website as a key source of Company information which can be accessed at www.sbgi.net
About Silver Chalice
Silver Chalice was founded in 2009 to create television-quality video in partnership with rights holders and other dominant players in the sports media industry. Its networks deliver unique digital video experiences, with content available across a variety of platforms including web, mobile, connected TVs and streaming media devices.
About 120 Sports
120 Sports is a digital destination for up-to-the-moment expert commentary on all trending sports topics. The network's daily live broadcasts include hosted programming delivering timely narratives of the stories across every sport, as well as breaking news, fan response and video highlights, all integrated with social conversation and expert analysis. Equity partners in 120 Sports include MLBAM, the NHL, the PGA TOUR, Campus Insiders, Time Inc. /Sports Illustrated, and Silver Chalice.
About Campus Insiders
Campus Insiders, an all-digital platform, brings fans the latest news from college conferences across the country, with high-quality content including live studio shows, video-on-demand (VOD), and live games.
The matters discussed in this news release include forward-looking statements regarding, among other things, future operating results. When used in this news release, the words "outlook," "intends to," "believes," "anticipates," "expects," "achieves," "estimates," and similar expressions are intended to identify forward-looking statements. Such statements are subject to a number of risks and uncertainties. Actual results in the future could differ materially and adversely from those described in the forward-looking statements as a result of various important factors. There can be no assurances that the assumptions and other factors referred to in this release will occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements except as required by law.
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SOURCE Sinclair Broadcast Group, Inc.