Diamond owns 19 networks under the Bally Sports banner. Those networks have the rights to 42 professional teams — 14 baseball, 16 NBA and 12 NHL.
The company said in a release Tuesday night that it expects to continue to operate during the bankruptcy process and that coverage of games should not be affected. Diamond Sports also said it is negotiating a restructuring agreement with debt holders that will eliminate most of its debt. Under an agreement with creditors, it would become a separate company from Sinclair Broadcast Group.
“DSG will continue broadcasting games and connecting fans across the country with the sports and teams they love,” Diamond Sports CEO David Preschlack said in a statement. “We look forward to working constructively with our team and league partners and all DSG stakeholders throughout this process and beyond.”Diamond said in a financial filing last fall it had debt of $8.67 billion. The bankruptcy filing was made in the Southern District of Texas.
Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019. Disney was required by the Department of Justice to sell the networks for its acquisition of 21st Century Fox’s film and television assets to be approved.
Y’know…BALLYSPORTSAZ would probably have had more revenue if they would have had a deal for people to watch the dbacks on hulu Live TV. Just sayin’…
Everyone saw this coming.
As a former Sinclair employee, this couldn’t happen to a better company!
This is what happens when you neglect local fans by gouging your prices and making it near impossible to support their local team. Those fans will just not pay and your company fails
Sinclair is obviously too woke.
Lack of access, blackouts, and high prices certainly don't help them. And does each team really need seven (or more) commentators? Seems like they can go lean and still cover events well enough.
Great how can I watch my Reds lose all summer long now
1loriking Another Bettman blunder.
Hoping Bally networks going bankrupt means that entire racist AnnieAgar finally faces the consequences her blinding privilege protected her from last year. That's right, Lil Racist Annie... we never forget.
Sinclair Broadcast and its Diamond Sports / Bally subsidiary are a cancer on society.
Good! Work with YouTubeTV already.
I just want to watch Royals on tv w/o cable. Blacking out so many games doesn't help either. Come on Royals MLB Your allowable coverage sucks!
Yup, first you have the bank lenders going belly up then it's all the BALLYs they lended too: 🤦🏻♂️ BallySportWest BallySportsDET BallySportsNOR BravesOnBally BallySportsSW BallySportsMW BALLYSPORTSAZ HorseshoeVegas BallySportsCLE BallySportsSO
Good, stop putting terrible teams behind a pay-wall.
Hmmm, turns out forcing people to subscribe to their network to watch their favorite sports team is not a good business model.
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