Item 8.01. Other Events.
On May 12, 2020, Diamond Sports Group, LLC and Diamond Sports Finance Company
(together, the "Issuers"), indirect subsidiaries of Sinclair Broadcast Group,
Inc., issued a press release announcing that they have commenced a
private exchange offer (the "Exchange Offer") to certain eligible holders to
exchange any and all of the Issuers' outstanding 6.625% Senior Notes due 2027
(the "Senior Notes") for newly issued 12.750% Senior Secured Notes due 2026 and
a cash payment on the terms and subject to the conditions set forth in the
Confidential Offering Memorandum, Offer to Exchange and Consent Solicitation
Statement, dated May 12, 2020. Concurrently with the Exchange Offer, the Issuers
are soliciting consents from holders of the Senior Notes to certain proposed
amendments to the indenture governing the Senior Notes, to eliminate most of the
restrictive covenants and certain of the events of default contained therein
(the "Proposed Senior Notes Amendments"). Holders of the Senior Notes who
validly tender their Senior Notes will be deemed to consent to the Proposed
Senior Notes Amendments, and holders of the Senior Notes may not deliver
consents to the Proposed Senior Notes Amendments without validly tendering their
Senior Notes in the Exchange Offer. The Issuers must receive consents from
holders of a majority in aggregate principal amount of outstanding Senior Notes
not owned by the Issuers or any of their affiliates to adopt the Proposed Senior
Notes Amendments.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release, dated May 12, 2020.
104 Cover Page Interactive Data File (formatted as Inline XBRL).
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