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Chris Ripley, CEO of the Sinclair Broadcast Group, offered some of his most extensive public comments Thursday about the Disney-run auction of the former Fox regional sports networks. He described it as a “very difficult” process that resulted in a final price tag that “way underachieved expectations” — happily for his company.

Sinclair led an investor group including Byron Allen that prevailed in a $9.6 billion deal that closed earlier this year. Wall Street analysts had initially projected a return in the range of $15 billion to $20 billion for the networks, which remain valuable draws in their markets despite increasing challenges in linear broadcasting.

Speaking on a panel at Advertising Week in New York, Ripley said the intense media and Wall Street scrutiny of the fate of the RSNs made the environment problematic. “It was literally in the paper every day,” he said. “In fact, if I was Disney and I had a choice,...