By way of the Minneapolis Star Tribune:
Diamond Sports activities, which owns 19 Bally Sports activities regional networks — together with Bally Sports activities North — made official its chapter submitting Tuesday, an unsurprising transfer that nonetheless brings the perilous nature of the way forward for native sports activities on TV into additional focus.
Whereas Diamond pledged to proceed broadcasting the video games of the 42 groups throughout the NHL, NBA and MLB that fall beneath the Bally umbrella, it’s clear that the affected leagues are on the very least creating plans — each short- and long-term — for an upcoming time when the distribution mannequin might be fairly completely different.
By way of the Cleveland.com:
The DSG launch mentioned it filed for chapter to eradicate over $8 billion in debt. DSG is a subsidiary of Sinclair Broadcast Group. The discharge mentioned, “DSG expects that its Bally Sports activities regional sports activities networks (“RSN”) will proceed to function within the extraordinary course in the course of the Chapter 11 course of. Diamond is nicely capitalized with roughly $425 million of money readily available to fund its enterprise and restructuring.”
David Preschlack, CEO of Diamond, within the launch mentioned, “DSG will proceed broadcasting video games and connecting followers throughout the nation with the sports activities and groups they love. With the help of our collectors, we count on to execute a immediate and environment friendly reorganization and to emerge from the restructuring course of as a stronger firm.”