The future of Diamond Sports Group, which broadcasts NBA, MLB, and NHL games on its Bally Sports networks, remains uncertain but pivotal for the sports broadcasting landscape. The company recently received an extension from U.S. Bankruptcy Judge Christopher Lopez and has until May 22 to vote on its reorganization plan. A final ruling on Diamond’s solvency is set for June 18.
Diamond’s revenue comes primarily from distributors such as Comcast and DirecTV, and reaching a favorable deal with these partners is crucial for the company to exit bankruptcy successfully. Key negotiations with Comcast are ongoing following a multiyear agreement with Charter two weeks prior. If an agreement with Comcast cannot be reached, the NBA may take over game production and distribution, making it essential for current distribution negotiations to succeed.
The NBA has 15 teams affiliated with Diamond, and determining the viability of the broadcaster going forward is important for these teams. Until a resolution is reached, they are in a state of uncertainty, prompting NBA front offices to explore alternative broadcasting options for the 2024-25 season. Previously facing liquidation, Diamond has secured financing from creditors to address its $8 billion in debt and received an investment offer from Amazon contingent on a successful emergence from bankruptcy.
Sources indicate that the NBA, MLB, and NHL broadcasts on Diamond’s networks are highly valuable, making it essential for current distribution negotiations to succeed. If an agreement with Comcast cannot be reached