The move follows the Sinclair Broadcast Group division missing a $140 million debt payment and speculation over a possible prearranged Chapter 11 bankruptcy filing as part of strategic alternatives.
Helping lead those talks with bondholders as a Chapter 11 bankruptcy and an eventual debt-for-equity swap remain as possible options towards a settlement will be an immediate priority for DeVoe Jr.
“As DSG’s chief operating officer and chief financial officer at this important time for the company, my near-term priorities are to establish firm financial footing, seek strategic alternatives, and provide operational discipline that will enable DSG to evolve the business while continuing to provide excellent live sports productions for fans. I am energized working with David and the DSG team and by the opportunities ahead for DSG,” DeVoe Jr.
DeVoe Jr. comes to the regional sports network after earlier serving as executive vp at 21st Century Fox, and before that completing stints as a CFO for Fox Entertainment Group, News America Marketing and TV Guide. Diamond Sports also announced it has hired Eric Ratchman as president of distribution and business development after he earlier worked at Amazon as the global head of business at IMDb TV, now Amazon Freevee, and as director of Prime Video Direct. Before that, he completed executive stints at Univision Communications, The Walt Disney Company and ESPN.
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