Where does one even begin with the saga of Diamond Sports, the country’s largest and most troubled owner of regional sports networks? Does one start at the original sin, when Bob Iger was forced by antitrust laws to flip a portfolio of Fox Sports networks to Sinclair for about $10.5 billion, including a noose of $8 billion in debt, as an addendum to Disney’s (retrospectively questionable) $70 billion-plus consummation of the tastier Murdoch assets? Or does one begin with the wholesale collapse of the linear TV bundle and (retrospectively unwise) decision made by Fox Sports executives years ago to spend $100 million annually on local broadcast rights for teams like the Texas Rangers, or $60 million per year to air the always under-delivering and themselves debt-strapped San Diego Padres?
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