Warner Bros. Discovery to stop regional sports broadcasts due to financial woes

Reports have emerged that AT&T Sportsnet channels owned by Warner Bros. Discovery are on the brink of bankruptcy. The channels, formerly branded AT&T Sportsnet after WarnerMedia's assets were acquired by Warner Bros. Discovery last year, broadcast regular season games for several MLB, NBA, and NHL teams in multiple states. Warner Bros. Discovery has been looking to exit the regional sports industry for some time and has been negotiating a deal for the rights owned by AT&T Sportsnet to shift back to the leagues. The network recently informed teams that without a deal to transfer ownership of the network by March 31, their only option could be to file for Chapter 7 liquidation. This news follows reports that the largest regional sports provider in the US, Diamond Sports Group, is nearing bankruptcy. MLB Commissioner Rob Manfred said last week that the league is prepared to take over broadcasting games if necessary, which could lead to the end of blackouts for fans.