Diamond Sports Group, a regional sports broadcaster, has received US court approval to proceed with voting on its plan to exit bankruptcy. The plan, supported by Amazon, involves a debt-slashing deal and negotiating new long-term television deals with major sports leagues, including the NBA and NHL, while also securing distribution agreements with cable providers such as DirecTV and Comcast. The voting by creditors is scheduled to begin next week, with a plan confirmation expected in June. Meanwhile, the NBA has been resistant, complicating efforts to finalize the deals.
Diamond Sports Group argues NBA, NHL ‘confused’ about reorganization plan concerns https://t.co/FHLSSTGRV4 https://t.co/6C29sartTu
Rangers, Mavs broadcaster Diamond Sports readies for vote on bankruptcy plan https://t.co/5djXY9UzXZ
Diamond Sports Group will hold a creditor vote on a bankruptcy-exit plan backed by Amazon while the broadcaster tries to negotiate new television deals with two major US sports leagues. https://t.co/vkBZaFcNl3
Regional sports broadcaster Diamond Sports Group received US court approval to begin voting on its bankruptcy plan, allowing it to move ahead with a debt-slashing deal while negotiating longer-term agreements with cable companies and sports leagues https://t.co/qL60SKjont
A bankruptcy judge approved Diamond Sports Group’s disclosure statement. Solicitation is next week; confirmation is in June. Diamond is still trying to secure distribution deals with DirecTV & Comcast. It said it has proposals for linear & digital deals in front of the NHL & NBA.
Diamond, and the bankruptcy court, would likely prefer a new long-term deal with the NBA—but the league is playing hardball. @Ourand_Puck digs in. https://t.co/KRKpBAw8Wc