Sinclair Broadcast Group "has had talks to buy the closely-held Tennis Channel," according to sources cited by Hagey & Flint of the WALL STREET JOURNAL. The "on-again, off-again discussions have taken place over the last several months between Sinclair and private equity firms Apollo Global Management, Bain Capital Ventures, Battery Ventures, CCMP Capital and Columbia Capital, which are the majority owners of the Tennis Channel." Satellite broadcasters DirecTV and Dish Network "also own small stakes in the network." The talks are a "sign of the increasing pressures on independent cable channels like the Tennis Channel to bulk up amid consolidation among pay-TV distributors who carry their programming." For Sinclair, sources said that buying Tennis Channel "would offer a way to diversify its holdings and control more content." Tennis Channel "is available in about 35 million homes." A source said that its owners "are seeking a price" north of $500M (WALL STREET JOURNAL, 9/22).
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