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Bloomberg — Business — Regional sports networks in bankruptcy — Media rights — Pay-TV — Direct-to-consumer service

America’s Largest Owner of Local Sports Channels Files for Bankruptcy

Diamond Sports Group, America's largest owner of local sports channels, files for bankruptcy in Texas. The broadcaster's efforts to pivot its business model were stymied by its unwieldy balance sheet.

1 min read
  • Diamond Sports Group, America’s largest owner of local sports channels, filed for bankruptcy in Texas.
  • The broadcaster's efforts to pivot its business model were stymied by its unwieldy balance sheet.
  • The bankruptcy underscores the immense challenges facing regional sports networks, which are under financial pressure as more people cancel their cable-TV service.
  • The company plans to restructure while continuing to broadcast live sports to fans.
  • The bankruptcy puts at least $2.2 billion annually in local sports rights at risk.
America’s Largest Owner of Local Sports Channels Files for Bankruptcy
America’s largest owner of local sports channels filed for bankruptcy after its efforts to pivot its business model were stymied by its unwieldy balance sheet.
BloombergErin Hudson

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