Diamond Sports Group Emerges from Bankruptcy with Approved Reorganization Plan
The company reduces debt and rebrands under FanDuel Sports Network, securing broadcasting rights for 27 teams.
- U.S. Bankruptcy Court Judge Christopher Lopez approved Diamond Sports Group's reorganization plan after 20 months of Chapter 11 proceedings.
- The restructured company now operates 16 networks under the FanDuel Sports Network banner, covering games for 27 MLB, NBA, and NHL teams.
- Diamond voided and renegotiated contracts with several MLB teams, securing new deals with streaming rights for the Rays, Tigers, Angels, Marlins, and Cardinals.
- A new agreement with Prime Video allows Diamond's channels to be available as an add-on subscription, expanding its streaming capabilities.
- The company's emergence from bankruptcy is seen as a positive step for its financial stability, with plans to offer single-game pricing on its app starting December 5.
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