WSJ: Soo Kim-Led Standard General Buys Out Bally

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While the Bally Sports regional sports networks are troubled, it is important to know that they are owned by Sinclair Inc. subsidiary Diamond Sports Network; the Bally name is used under license from a gaming and casino giant that Standard General has an ownership stake in.


Now, the Soo Kim-led investment house is acquiring all of Bally’s outstanding shares.

According to The Wall Street Journal, Standard General, owner of the Deb McDermott-helmed Standard Media, has engineered a stock acquisition that will increase its roughly 25% interest in Bally to 100%. Standard General is paying $18.25 per share; a March 2024 bid put the price at $15 per share.

Bally stock was priced at $16.91 just after Friday’s Opening Bell.

Once the stock acquisition is complete, Bally’s will merge with the Queen Casino & Entertainment. Closing is expected before June 30, 2025.