Sinclair Broadcast Group, Inc. (the parent company of Ring of Honor) announced today that it closed on its previously announced acquisition of the stock of Tennis Channel for $350 million. The acquisition was funded through cash on hand and a draw on the Company’s revolving line of credit. Sinclair owns, operates and/or provides services to 171 television stations in 81 markets, broadcasting 471 channels and affiliations with all the major networks.
While nothing is official at this time, there have been rumors that the purchase could lead to Sinclair transforming the network into a sports channel. Sinclair launched an American Sports Channel in the summer of 2014 and airs various NCAA Division 1 sports. The general feeling has been that if Sinclair could acquire an established network (as they have here) that when it gets re-branded as their sports channel that ROH programming could be a part of the channel’s content.
