Collapse of Regional Sports Networks (Diamond Sports Group files bankruptcy, Warner-Discovery looking to leave business, Xfinity drops Bally)

[Spydey629]

It’s official. The Pirates are joining forces with FSG to co-own SportsNet Pittsburgh. They become a partner on January 1.

Everything on it is a blurb post so far. No links to provide at the moment…

 

[Spydey629]

Pittsburgh Post Gazette article on the deal:

https://www.post-gazette.com/sports/pirates/2023/12/13/pirates-sportsnet-pittsburgh-penguins-joint-owners-regional-sports-network/stories/202312120089

 

[Fish on The Sand]

Watch the same people who are rubbing their hands about rsn falling and crying about blackouts are going to be the same people complaining about Jersey sponsers so they make up the revenue. Be careful what you wish for.

They will probably complain even louder when they realize a dedicated sports subscription, even for a single team, will end up being similar to a cable subscription, but with much less overall value.

 

[Kirk Van Houten]

 

[Kirk Van Houten]

News: Bally RSNs, Pac-12, Peacock

Diamond Sports Group, owner of the Bally Sports RSNs, is nearing a settlement with MLB that would allow them to broadcast games for the 2024 season, per report. The two sides spent Thursday negotiating terms before meeting in federal bankruptcy court on Friday.

Details around the negotiations are sparse, and lawyers for both sides did not disclose whether a potential agreement would include all 11 franchises currently under contract with Diamond. In previous negotiations, Diamond has identified the Cleveland Guardians and Texas Rangers as two teams they would like to drop. Friday, a lawyer for Diamond mentioned there was a third team “currently not contemplated to be in the fold,” but did not specify which team.

Earlier this year, Diamond struck agreements with the NBA and NHL to broadcast games through the end of the season at a discounted fee, before ceding rights back to the league when the season concludes.

For the moment Bally Sports will stay even with a reduced pool of teams.

 

[Kirk Van Houten]

Amazon, Diamond Sports, in negotiations on partnership

Amazon and Diamond Sports — operator of the Bally Sports RSNs — are reportedly in talks that would eventually result in games being distributed through Amazon’s Prime Video platform. The Wall Street Journal reported Monday that Amazon and Diamond are in active negotiations on a “multiyear streaming partnership” that would see Amazon purchase an as-yet-undetermined stake in the now-bankrupt company and “eventually become the streaming home” of its properties.

Amazon, which already owns a stake in YES Network, has previously been mentioned as a suitor for the NBA’s local rights in the league’s upcoming media rights negotiations. The NBA recently struck a deal with Diamond that will result in all of its existing deals with Bally Sports RSNs ending after this season. That arrangement was viewed as paving the way, at least partially, for the NBA to package local rights in a potential national deal with Amazon.

The aforementioned agreement between Diamond and the NBA is part of a plan by the company to exit all of its existing deals by the end of the 2024 Major League Baseball season. While that effort has been perceived — specifically by Diamond’s parent company Sinclair Broadcast Group — as a prelude to Diamond’s liquidation, an arrangement with Amazon would obviously change the calculus.

 

[SirJW]

NHL to keep 11 teams' local broadcasts on Bally

The NHL reached an agreement with Diamond Sports Group to keep local broadcasts for 11 teams on Bally Sports through the end of this season.

www.espn.com

 

[BB79]

Amazon eyes bankrupt Diamond Sports in push to stream MLB, NBA, NHL: report

If an agreement is reached, Amazon’s Prime Video platform would eventually become the streaming home for Diamond’s games, the Wall Street Journal reported.

nypost.com

Could be streaming games on Amazon

 

[awfulwaffle]

Amazon eyes bankrupt Diamond Sports in push to stream MLB, NBA, NHL: report

If an agreement is reached, Amazon’s Prime Video platform would eventually become the streaming home for Diamond’s games, the Wall Street Journal reported.

nypost.com

Could be streaming games on Amazon

As long as there is no extra charge for it. We'll see though.

 

[mouser]

NHL to keep 11 teams' local broadcasts on Bally

The NHL reached an agreement with Diamond Sports Group to keep local broadcasts for 11 teams on Bally Sports through the end of this season.

www.espn.com

For clarity it's not guaranteed broadcast rights will return to the teams after this season. The deal still includes the possibility for a third party such as Amazon to purchase the assets out of bankruptcy.

Also the court document only lists 8 of the 11 teams. Meaning the other 3 teams (Blues, Kings, Panthers) might have a slightly different treatment.

 

[jkrdevil]

For clarity it's not guaranteed broadcast rights will return to the teams after this season. The deal still includes the possibility for a third party such as Amazon to purchase the assets out of bankruptcy.

Also the court document only lists 8 of the 11 teams. Meaning the other 3 teams (Blues, Kings, Panthers) might have a slightly different treatment.

Were those three teams paid already?

 

[mouser]

Were those three teams paid already?

Possibly, or at least their respective networks seem to be referred to as non-debtor joint ventures. That would imply Diamond is not in default on the deals, or some other arrangement has been or will be made. The joint venture language implies mixed ownership groups for those three networks, possibly including the teams themselves. Haven't researched the ownership details on those three networks.

 

[FMichael]

Wonder what will become of ESPN+ and NHL games streamed?

 

[jkrdevil]

Wonder what will become of ESPN+ and NHL games streamed?

ESPN+ is unaffected by by this. They still have out of market rights (along with their exclusive slate).

 

[LadyStanley]

Friedman's take on Diamond and Amazon potential.

 

[Kirk Van Houten]

YES, MSG networks partner on new venture that could lead to all-in-one streaming service

YES and MSG Network are partnering on a new venture that eventually could lead to a direct-to-consumer streaming service that offers the Yankees, Knicks, Rangers, Nets, Devils and Islanders on one …

nypost.com

A fun quirk of this whole RSN situation the Mets are being left out altough that can change

 

[Kirk Van Houten]

How might next TV deal for Blackhawks, Bulls and White Sox turn out?

Less than 10 months remain in the television-rights agreements between NBC Sports Chicago and the Blackhawks, Bulls and White Sox.

 

[Kirk Van Houten]

A postpoment on the next meeting between Bally and MLB for the 2024 season

 

[FriendlyGhost92]

A postpoment on the next meeting between Bally and MLB for the 2024 season

Didn't Seravalli's website just put out an article that Bally's parent company agreed to pay the NHL markets for the rest of 23-24 and 24-25 TV rights go back to those teams to find new contracts?

 

[Kirk Van Houten]

Didn't Seravalli's website just put out an article that Bally's parent company agreed to pay the NHL markets for the rest of 23-24 and 24-25 TV rights go back to those teams to find new contracts?

I'm pretty sure Bally got that deal with NBA/NHL teams so it's relevant to see what they do with MLB if they can't reach a deal then we're looking at the same thing for the NHL

 

[Kirk Van Houten]

Amazon, Diamond Sports, in negotiations on partnership

Amazon and Diamond Sports — operator of the Bally Sports RSNs — are reportedly in talks that would eventually result in games being distributed through Amazon’s Prime Video platform. The Wall Street Journal reported Monday that Amazon and Diamond are in active negotiations on a “multiyear streaming partnership” that would see Amazon purchase an as-yet-undetermined stake in the now-bankrupt company and “eventually become the streaming home” of its properties.

Amazon, which already owns a stake in YES Network, has previously been mentioned as a suitor for the NBA’s local rights in the league’s upcoming media rights negotiations. The NBA recently struck a deal with Diamond that will result in all of its existing deals with Bally Sports RSNs ending after this season. That arrangement was viewed as paving the way, at least partially, for the NBA to package local rights in a potential national deal with Amazon.

The aforementioned agreement between Diamond and the NBA is part of a plan by the company to exit all of its existing deals by the end of the 2024 Major League Baseball season. While that effort has been perceived — specifically by Diamond’s parent company Sinclair Broadcast Group — as a prelude to Diamond’s liquidation, an arrangement with Amazon would obviously change the calculus.

News: Diamond Sports, SRX and more

Diamond Sports and Amazon remain in talks for an MLB streaming deal despite opposition from the league. Plus, more sports media news.

www.sportsmediawatch.com

Diamond Sports (operator of the Bally Sports RSNs) is in negotiations to sell its Major League Baseball streaming rights to Amazon, but has had to scale back its original plans under opposition from MLB, the New York Post reported this week. Amazon originally offered to invest $150 million into Diamond in exchange for multi-year streaming rights to all 11 MLB teams carried by Bally Sports, but Diamond only owns streaming rights to five (the Brewers, Marlins, Rays, Royals and Tigers). The sides are now in talks concerning just those teams.

Diamond had pitched MLB on acquiring long-term streaming rights to all 11 and then selling those to Amazon, but was rebuffed as the league wants to sell those rights itself. To that end, MLB is offering Diamond reduced rights fees for three teams if the company agrees to relinquish its streaming rights after this season, a move that would have the added benefit of resolving the sides’ stalemate over which teams will air on Bally Sports this season. (Diamond has indicated that it will only carry certain teams — believed to be the Guardians, Rangers and Twins — at a reduced rate.)

Small update on the Amazon/Bally/MLB situation

 

[LadyStanley]

Amazon will invest in Diamond Sports as part of bankruptcy restructuring agreement

Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy. Diamond owns 18 networks under the Bally Sports banner. Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern...

finance.yahoo.com

Amazon will partner with Diamond Sports as part of a restructuring agreement as the largest owner of regional sports networks looks to emerge from bankruptcy. ...

 

[Kirk Van Houten]

So now we have to see first if MLB does make with Amazon and then what the NBA/NHL do

 

[AtlantaWhaler]

So now we have to see first if MLB does make with Amazon and then what the NBA/NHL do

According to the ESPN article:

Customers will be able to access their local team's content on Prime Video channels where Diamond has rights. Pricing and availability will be announced at a later date. Regional sports content will also remain available on cable and satellite providers.

This is awesome news. Though, this will be a blow to the cable companies. I have a number of friends who subscribe to Comcast just to be able to watch Braves games (after Bally's left YouTube TV).

 

[Ezekial]

According to the ESPN article:

Customers will be able to access their local team's content on Prime Video channels where Diamond has rights. Pricing and availability will be announced at a later date. Regional sports content will also remain available on cable and satellite providers.

This is awesome news. Though, this will be a blow to the cable companies. I have a number of friends who subscribe to Comcast just to be able to watch Braves games (after Bally's left YouTube TV).

Cable companies need to adapt to the realities of the day. Diamond pays to produce the broadcast and their model is failing in the current cable market - advertisements alone can't pay the bills when you can't get eyeballs on them. The producers of the broadcast need to make money or the lights turn off, I was thinking Bally's would completely fail before Amazon or some other major streamer would swoop in and buy all that broadcasting infrastructure.


As for the news, it's great news.