Warner Bros. Discovery Looks to Get Out of Regional Sports TV Business

Warner Bros. Discovery Inc. .. is informing the professional-sports teams whose games are carried on three of its regional sports networks that it wishes to cease operating the channels and exit the business, according to people familiar with the matter.  The channels—which are still branded as AT&T SportsNet—serve teams in Pittsburgh, Houston, Colorado and Utah—and carry baseball, basketball and hockey.

In a letter sent Friday from the unit’s president Patrick Crumb—a copy of which was reviewed by The Wall Street Journal—teams were warned that “the business will not have sufficient cash to pay the upcoming rights fees,” people familiar with the letter said.

When does the Bryan Reynolds auction start?

(Not behind a paywall.)