Tennis Channel CEO Serves Up Surprise Exit, Trades Racket for Role with Dr. Phil’s Empire
Sinclair Broadcast Group Fires Tennis Channel CEO Ken Solomon
Sinclair Broadcast Group has terminated the employment of Ken Solomon, the longtime president and CEO of Tennis Channel, citing his involvement in non-work-related activities. Specifically, the parent company questioned Solomon’s role as an advisor and board member at Dr. Phil McGraw’s Merit Street Media company.
The decision comes after the channel’s extensive coverage of the U.S. Open, which concluded on September 9, Solomon’s last day at the network. According to an anonymous source, Solomon’s efforts with Dr. Phil were seen as “a growing distraction.” However, people close to Solomon claim that he had been working in a similar role outside the company since 2005 without any complaints.
Another point of contention is Sinclair’s requirement for Solomon to work out of the Tennis Channel’s Santa Monica office, despite his recent purchase of real estate in Dallas. Sources close to Solomon say the acquisition is a horse farm for his wife, who still maintains a home in Los Angeles. McGraw’s company, meanwhile, is based in the Dallas-Fort Worth area.
The resignation comes as Sinclair looks to sell the Tennis Channel. The Baltimore-based parent company, which acquired the network for $350 million in 2016, is the second-largest television station operator in the U.S. after Nexstar Media Group. In June 2021, Sinclair was named one of the Fortune 500 companies.
According to reports, Sinclair has courted investment bank Moelis to sell the Tennis Channel, valued at $750 million, and some of its regional TV stations. Solomon, who stands to benefit from the sale, has been actively involved in the process, working with the bank to meet potential buyers. The sale is underway, with a final bid expected in the coming weeks.
The Tennis Channel has approximately 35 million viewers in households that subscribe to the package. Meanwhile, Sinclair has seen its subsidiary decline as the broadcast industry struggles with cord-cutting and competition from streaming services. The company plans to sell up to 60 of its 185 stations.