Sinclair to pay $495M to settle Diamond Sports litigation; net cost $250-325M

Sinclair, Inc.

DSG withdraws $1.5B lawsuit; Sinclair pays $495M cash, funded from cash on hand or loan.
Net cost after tax benefits, MSA payments, and other value estimated at $250-325M.
Settlement includes amended Management Services Agreement and transition services to make DSG self-standing.
Deal requires approval by U.S. Bankruptcy Court in Houston; motion expected next week.
Sinclair also gets acquisition rights for Diamond's interest in Marquee Sports Network and residual assets.

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