Warner Bros. Discovery exits regional sports network business and urges teams to find new partners – Fox Business

See what’s clicking on FoxBusiness.com

Ten professional sports teams are expected to look for new broadcast partners soon as their current one attempts to withdraw from the regional sports broadcasting business.

Warner Bros. Discovery has updated teams on its plans to exit regional esports over the next few weeks.

WBD operates AT&T SportsNet in Denver, Houston and Pittsburgh and also owns a minority interest in Root Sports in Seattle.

The company has told the teams they have until March 31 to reach an agreement to regain their rights. If this is not possible, the channels will proceed with the Chapter 7 liquidation.

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM

Warner Bros. Discovery CEO David Zaslav speaks onstage during the Warner Bros. Discovery Upfront 2022 show at The Theater at Madison Square Garden on May 18, 2022 in New York City. ((Photo by Kevin Mazur/Getty Images for Warner Bros. Discovery)/Getty Images)

“AT&T SportsNet is not immune to the well-known challenges facing the entire RSN industry. We will continue to have private discussions with our partners to find sensible and constructive solutions,” WBD told Sports Business Journal.

Teams from the MLB (Houston Astros, Seattle Mariners, Pittsburgh Pirates, Colorado Rockies), the NBA (Utah Jazz, Portland Trail Blazers, Houston Rockets) and the NHL (Seattle Kraken, Pittsburgh Penguins, Vegas Golden Knights) are affected.

A general view as Philadelphia Phillies manager Rob Thomson #59 makes a pitching change in the sixth inning against the Houston Astros in game one of the 2022 World Series at Minute Maid Park on October 28, 2022 in Houston, Texas. (Carmen Mandato/Getty Images)

The move comes amid the likely bankruptcy of Diamond Sports Group, which operates Bally Sports. 42 teams among 19 stations are broadcast on Bally, but Diamond is about $8 billion in debt.

WBC has reportedly been trying to pull out of the regional sport for months.

A general view of the field in the fourth inning during the game between the Pittsburgh Pirates and the Philadelphia Phillies at PNC Park on July 30, 2022 in Pittsburgh, Pennsylvania. (Justin Berl/Getty Images/Getty Images)

CLICK HERE TO GET THE FOX NEWS APP

It is estimated that the Pirates are grossing around $60 million a year with their current deal.