[W. Knight]

Bally Sports' parent company, Diamond Sports (majority-owned and operated by Sinclair, with Allen Media Group having a minority interest) is about to declare itself in administration. The immediate aftermath of it would be the start of the decline for the regional sports network model, which in the streaming era is becoming more obsolete. MLB could also take back the regional rights to 14 teams to re-sell it to competing RSNs or offer them through MLB Advanced Media.

... and they couldn't pay their interests, entering the 30-day period before filing bankruptcy:
www.sportsbusinessjournal.com