Sinclair Broadcast Group Inc. told a court it wants a faster breakup from its bankrupt sports broadcasting unit after the company was accused of draining more than $1.5 billion from the subsidiary.
Sinclair on Monday provided a defense against allegations it wrongly extracted substantial sums from its Diamond Sports Group subsidiary before the unit filed bankruptcy earlier this year. Sinclair said it agreed to waive millions of dollars in management fees and provided other financial assistance in hopes restructuring Diamond’s balance sheet.
But instead of continuing to work with its parent company on a plan to get the business out ...
