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Major League Baseball and the Atlanta Braves have raised issues with the reorganization plan and future viability of Diamond Sports Group, the country's largest owner of regional sports networks, according to a Friday bankruptcy court filing. The filing noted that both MLB and the Braves have a vested interest in Diamond Sports succeeding with a reorganization plan, but they are not convinced that the one currently proposed is viable. Meanwhile, Diamond will seek approval of its reorganization plan from a U.S. bankruptcy judge on Thursday. The Friday objection does not mean that the Braves have turned away from Diamond for their regional media rights. On Friday, the Cincinnati Reds said they would exit their regional sport network owned by Diamond, according to a court filing.

Persons: Diamond didn't, Diamond, FanDuel, John Malone's, Malone Organizations: Major League Baseball, Atlanta Braves, Diamond Sports Group, Braves, MLB, Sports, Diamond Sports, Amazon, Bally Sports, Atlanta Braves Holdings, John Malone's Liberty Media, Liberty Media, Diamond, Louis Cardinals, Miami Marlins, Cincinnati Reds

☆ CNBC Sport: Shams Charania on joining ESPN and life after Woj
▼ + stars: | 2024-10-10 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +21 min

Charania begins his ESPN TV work today. "It's definitely going to be a lot of TV," Charania said. They worked together at Yahoo Sports before becoming rivals, only for Charania to eventually take over for Wojnarowski at ESPN. Charania begins his ESPN TV work today. "It's definitely going to be a lot of TV," Charania said.

Persons: Alex Sherman, Shams, Adrian Wojnarowski, Charania, FanDuel, Jimmy Pitaro, It's, Pat McAfee, Wojnarowski, I'm, Jim Rome, I've, he's, that's, He'll, I'd, Adam Silver, Bob Kraft, Jessica Berman, CNBC's Jessica Golden, Craig Kilborn, Colin Neville, Jim Ratcliffe, Joe Tsai, Colin, Neville, dealmaking, We've, CNBC's Contessa Brewer, Jim Allen, Adam Greenblatt, isn't, Tiger Woods, Tigeraire, Woods, CNBC's Lillian Rizzo, Rudy, Rudy Ruettiger, Kevin Mayer, Tom Staggs, Read, Yahoo's Ross Dellenger, we've, Woody Johnson, Woody Johnson —, Johnson, Robert Saleh, Derek Jeter, Shams Charania, Raine Organizations: CNBC, ESPN, FanDuel TV, The, ESPN TV, Worldwide, Sports, NBA, Yahoo Sports, Wojnarowski, Yahoo, I'm, NFL, Miami Dolphins, Buffalo Bills, Los Angeles Chargers, Dolphins, New England Patriots, National Women's Soccer League, Chelsea Football Club, Manchester United, Brooklyn Nets, Premier Lacrosse League, Youth, NCAA, UFC, CNBC Sport, Rock, Seminole Gaming, U.S . Patent, Sun, QVC, Notre Dame, Disney, Candle Media, SEC, Big Ten, ACC, Jets, Apple, Hollywood, Diamond Sports Group, Bally Sports, Wildcats, College Football, Sinclair, Raine Group Locations: Raine, DraftKings, U.S, Las Vegas, Florida, Tigeraire, Northwestern

☆ CNBC Sport: A responsible look at women's sports exuberance
▼ + stars: | 2024-10-03 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +28 min

Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest. You have the WNBA rights term worth $2.2 billion over 11 years with league expansion going from 12 to 15 teams. Media landscape shifts Most of the value in professional sports is propelled by media rights deals, and we're in an unusual sweet spot right now for sports. Still, gaining access to 11 teams' media rights is probably in the league's long-run best interest.

Persons: Alex Sherman, Jeff Zucker, Patrick Whitesell, Zucker, Scripps –, it's, Alex Michael, he's, Michael, they're, There's, Caitlin Clark, Michael said, weathers, AEW, I'm, Tony Khan —, he'd, Khan, US Networks Kathleen Finch, Max, hasn't, Finch, Rob Manfred, doesn't, CNBC's Lillian Rizzo, Craig Kilborn, Barrett, Jackson, Caitlin Clark's, You've, Soccer League's Nielsen, Tom Brady, Father, Brady, Jess Golden, Michael Jordan, Libs, Jim France, OneFootball, Lionel Messi, Jessica Pegula, CNBC's, Venu, Fubo, Venu …, Nike, Matthew Friend, John Donahoe, Elliott Hill, Sabrina Ionescu –, Jane Hali, Jessica Ramirez, AE1, Gabrielle Fonrouge, Ariel Atkins, DiDi Richards, Craig Hudson Organizations: CNBC, Endeavor, WNBA, NCAA, National Women's Soccer League, Amazon, CBS, ESPN, Scripps, NBA, Fox, NBC, Apple, Google, MLS, Clark, Warner Bros ., TNT, TBS, Warner Bros, Discovery, US Networks, Diamond Sports Group, U.S, Bankruptcy, Southern, Southern District of, Major League Baseball, Atlanta Braves, MLB, Holdings, UFC, WWE, WME Sports, ATP, Miami, NCAA Women's, Soccer, Angel City FC, NFL, Premier League, Netflix, Tech, CNBC Sport, Father Time, NASCAR, Motorsports, Major League Soccer, American, NHL, Buffalo Sabres, Bills, Disney, International Center for Law & Economics, Nike, New York Liberty, Air Force, Air Jordan, League Men's NCAA, Gonzaga, Pac, West Coast Conference, FloSports, Sports, Indiana Fever, Washington Mystics, Capital, Washington , D.C, Washington Post Locations: York City, Southern District, Southern District of Texas, OpenBet, U.S, Kobe, Washington ,

☆ Florida Panthers games are moving from cable to local broadcast stations
▼ + stars: | 2024-07-02 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Sergei Bobrovsky, #72, and the Florida Panthers celebrate the Stanley Cup win following a 2-1 victory over the Edmonton Oilers in Game 7 of the NHL Stanley Cup Final at Amerant Bank Arena in Sunrise, Florida, on June 24, 2024. The Florida Panthers are skating to a new TV home. The Panthers, which have appeared in the Stanley Cup finals two years in a row, signed a multiyear deal with E.W. Scripps that allows the broadcast station owner to televise all locally produced Panthers preseason and regular season games as well as round one of the playoffs. "After careful review and dialogue, Diamond reached a mutual agreement with the Florida Panthers to end our existing telecast rights contract," a Diamond spokesperson said in a statement.

Persons: Sergei Bobrovsky, Diamond Organizations: Florida Panthers, Stanley, Edmonton Oilers, NHL, Amerant Bank, National Hockey League Stanley, The Panthers, E.W, Scripps, Panthers, Scripps Sports, Professional, Diamond Sports Group, Bally Sports Florida, Diamond Locations: Sunrise , Florida, Florida

☆ Bally Sports regional networks go dark for Comcast cable customers
▼ + stars: | 2024-05-01 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Negotiations between Comcast and Bally Sports' operator Diamond Sports Group, which has been under bankruptcy protection since last year, broke down following a dispute over terms. Pay-TV distributors have been losing customers at a fast clip in recent years as customers opt for cheaper streaming options. Comcast had more than 13.6 million pay-TV customers as of March 31, after losing 487,000 subscribers during the first quarter. Some regional sports networks have begun offering streaming options to customers at a price point that doesn't upend the pay-TV model. In addition to Comcast, Diamond has held negotiations in recent weeks with Charter Communications — which provides pay-TV services under the Spectrum brand — DirecTV and Cox Communications.

Persons: Diamond, Cox Organizations: Bally, Houston Astros, Minnesota Twins, Target, The Astros, Twins, Comcast, Bally Sports, Diamond Sports Group, MLB, Detroit Tigers, NBA, NHL, Diamond, Comcast ., Communications, DirecTV, Cox Communications, Charter, Google, Disney, San Diego Padres, Phoenix Suns, CNBC Locations: Minneapolis , Minnesota, NBCUniversal

☆ Peacock’s exclusive NFL playoff game drove ‘biggest subscriber acquisition moment ever measured,’ analytics firm says
▼ + stars: | 2024-01-24 | by ( Liam Reilly | ) edition.cnn.com time to read: +2 min

CNN —NBCUniversal’s high-stakes decision to exclusively air the NFL’s AFC Wild Card playoff game between the Miami Dolphins and Kansas City Chiefs on its streaming service Peacock drove record signups to the platform, a digital analytics firm said Wednesday. In the three days leading up to the January 13 kickoff in Kansas City, Peacock saw 2.8 million sign-ups, Antenna reported on Wednesday, citing preliminary data. Prior to the game, Peacock reached roughly 30 million subscribers, a significantly smaller number than CNN parent company Warner Bros. Discovery’s 95 million Max subscribers and Netflix’s 260 million global subscribers. Though it remains unclear just how many of the 2.8 million new subscribers will retain their Peacock service beyond the playoff game, the announcement comes as other streamers also appear to be getting serious about sports. Netflix on Tuesday announced it will stream WWE’s “Raw” beginning in 2025, the company’s biggest foray yet into live sports.

Persons: Peacock, signups, NBCUniversal Organizations: CNN, AFC, Miami Dolphins, Kansas City Chiefs, Disney, NFL, Warner Bros, Dolphins, Chiefs, Netflix, Amazon’s, Bally Sports, Diamond Sports Group Locations: Kansas City

☆ Stocks making the biggest moves before the bell: Spirit, Tesla, Teladoc, Rivian and more
▼ + stars: | 2024-01-17 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Spirit Airlines , JetBlue Airways — The airline stocks slid after a federal judge blocked JetBlue Airways' proposed $3.8 billion acquisition of Spirit Airlines. JetBlue shares fell nearly 1%, while Spirit Airlines dropped more than 20%. SolarEdge Technologies — The solar stock fell 5% following a downgrade by Barclays to underweight from equal weight. Twist Bioscience — Shares climbed 3.2% on the heels of an upgrade to buy from neutral at Goldman Sachs. Ford — Shares shed 2.3% on the back of a UBS downgrade to neutral from buy.

Persons: Sinclair —, Sinclair, Goldman Sachs, Davidson, William Blair, Nutanix, Wolfe, Uber, Tesla, Morgan Stanley —, Ted Pick, Visteon, Morgan Stanley, Morgan, —, Sarah Min, Yun Li, Jesse Pound, Michelle Fox Organizations: Spirit Airlines, JetBlue Airways —, JetBlue Airways, Bank of America Securities, Susquehanna Financial, JetBlue, LSEG, Diamond Sports Group, Diamond, Technologies, Barclays, Goldman, —, Broadcom, VMware, Deutsche Bank, Ford —, UBS, JPMorgan, Polaris, Mattel Locations: Rivian, China

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 Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection last March. Under the terms of the restructuring agreement, Amazon will make a minority investment in Diamond and enter into a commercial arrangement to provide access to Diamond’s content via Prime Video. Customers will be able to access their local team's content on Prime Video channels where Diamond has rights. Under an agreement with creditors last year, Diamond Sports Group became a separate company from Sinclair.

Persons: Diamond, Sinclair, David Preschlack, ” Diamond, ___ Organizations: Amazon, Diamond Sports, Bally Sports, —, NBA, NHL, Southern District of, MLB, San Diego Padres, Arizona Diamondbacks, Padres, Diamondbacks, Diamond, New York Yankees, Brooklyn Nets, YES, Sinclair Broadcast Group, Walt Disney Co, Disney, Department of Justice, Diamond Sports Group, Sinclair, RSA, Major League Baseball Locations: Southern District, Southern District of Texas, Diamond’s

☆ Stocks making the biggest moves midday: Instacart, Spirit Airlines, Marathon Digital and more
▼ + stars: | 2024-01-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Following the ruling, Bank of America downgraded Spirit to an underperform rating, while Susquehanna downgraded the airline to negative. Rivian — The electric vehicle manufacturer slid nearly 8% following a downgrade to a hold rating from Deutsche Bank. Polaris , Mattel — The stocks moved following rating changes from Morgan Stanley. Meanwhile, toymaker Mattel slid 2.8% after Morgan Stanley downgraded shares to equal weight, citing lofty consensus estimates and a tough 2024 outlook. Marathon Digital — The crypto mining firm slid 3% during Wednesday's trading session.

Persons: JetBlue's, Sinclair —, Sinclair, SolarEdge — SolarEdge, Teladoc, Davidson, Nutanix, William Blair, Uber, Ford, Morgan Stanley —, Ted Pick, Morgan Stanley, TD Cowen, Gregory Lewis, —, Alex Harring, Yun Li, Pia Singh, Samantha Subin Organizations: Spirit Airlines, JetBlue Airways —, Bank of America, Susquehanna, Interactive, LSEG, Diamond Sports Group, Diamond, Barclays, Broadcom, VMware, Wolfe Research, Deutsche Bank, UBS, JPMorgan, Polaris, Mattel, Automotive, Boeing, Federal Aviation Administration, BTIG, Marathon Digital Locations: Europe, China

☆ Big M&A and Bob Iger's future: 13 media executives make their anonymous 2024 predictions
▼ + stars: | 2023-12-20 | by ( Alex Sherman | ) www.cnbc.com time to read: +14 min

Executive 2: Bob Iger will, again, extend his contract as Disney CEO Earlier this year, Disney CEO Bob Iger renewed his contract through 2026. This executive predicted "fool me five times, shame on me." This executive predicted Peltz and Rasulo will win their campaign and both join the board. This person predicted Disney would purchase privately held Candle Media to acquire Moonbug Entertainment, the owner of CoComelon. This executive predicted Yaccarino would either lose patience or find her job increasingly pointless and leave the company in 2024.

Persons: Andrew Ross Sorkin, Walt Disney Company Bob Iger, Michael M, David Zaslav, Slaven Vlasic, NBCUniversal, Brian Roberts, Roberts, Donna Langley, Bob Iger, Iger, Nelson Peltz, Jay Rasulo, Marco Bello, Peltz, Rasulo, Disney's, Dana Walden, Dana Walden Jason Laveris, Disney Entertainment Dana Walden, Walden, Bob Chapek, Andrew Wilson, Wilson, Chris Licht wouldn't, McCarthy, Andrew Wilson Michael Newberg, Kevin Mayer, Mayer, Bryan van der Beek, Tom Staggs, Staggs, Jayson Tatum, Kyle Terada, NBCUniversal's Peacock, Alec Martinez, Gray, Discovery's Max, Jeff Zucker, Lady Michelle Obama's, Michelle Obamas, Cheriss, Gerry Cardinale, Jeff Shell, RedBird, Shari Redstone's, David Ellison, Byron Trott, Zucker, Mark Thompson, Linda Yaccarino, X Linda Yaccarino, Vox, Jerod Harris, Yaccarino, CNBC's Julia Boorstin, Boorstin, Elon Musk's, Jason LaVeris, Barbie, Mario, Oppenheimer, LightShed's Greenfield Organizations: Walt Disney Company, New York Times, Santiago, Getty, Jazz, Lincoln Center, Warner Bros ., Comcast, Warner Bros, Discovery, Disney, Trian Fund Management, Future Investment Initiative, Summit, Bloomberg, Filmmagic, Disney Entertainment, Electronic Arts, CNBC, Candle Media, Iger, Media, Moonbug Entertainment, Apple Boston Celtics, Golden State Warriors, USA, National Basketball Association, NBA, Apple, The College, ESPN, College, NHL, MLB, Vegas Golden Knights, Florida Panthers, Mobile, National Hockey League, Diamond Sports Group, Scripps, Gray Television, Las Vegas Golden Knights, Arizona Coyotes, Phoenix Suns, Street Journal, Netflix, Hulu, Max, Paramount, RedBird, Paramount Global, CNN Worldwide, CNN, NurPhoto, BDT, The Ritz, Carlton, FilmMagic, Mario Bros Locations: New York City, Disney, Miami , Florida, Las Vegas , Nevada, Laguna Niguel, Dana Point , California

☆ A former NBA media exec explains how the league's next rights deal could end up 'pumping more money' into player contracts
▼ + stars: | 2023-11-07 | by ( Margaret Fleming | ) www.businessinsider.com time to read: +5 min

Malkani served as the league's senior vice president of global media distribution from 2008 to 2015, focusing on digital and media rights. She explained how athletes will be impacted by the next NBA rights deal, as the value of sports rights skyrockets against the backdrop of crumbling regional sports networks and pay-TV bundles. While the new rights deal will increase salary caps, they'll go up by no more than 10% annually , the CBA says. How streaming rights could trickle down to playersThe NBA's current rights deals with Disney and Warner Bros. The league is likely to replicate that hybrid model of traditional and streaming providers to drive up the value of its next rights deal, Malkani said.

Persons: Shirin Malkani, she'd, Malkani, Perkins, they'll, WBD, It's, Max, Malkini Organizations: NBA, Media, CBA, Disney, Warner Bros, Discovery, ESPN, ABC, TNT, Apple, Paramount, YouTube, Diamond Sports Group, Phoenix Suns, Utah Jazz

The NBA and Diamond Sports Group, the largest owner of regional sports networks, have reached an agreement that will keep local broadcasts for 15 teams on Bally Sports through the end of this season. The agreement, which was contained in a court filing made Monday, is subject to court approval. While there will be a reduction in rights payments for some teams, the local rights for 15 franchises will revert back to those teams and the league at the end of this season. The agreement provides stability for fans, networks and NBA teams after Major League Baseball had to take over the broadcasts of San Diego Padres and Arizona Diamondbacks games last season after agreements could not be reached. The NBA teams that are currently on Bally are: Atlanta, Charlotte, Cleveland, Dallas, Detroit, Indiana, LA Clippers, Memphis, Miami, Milwaukee, Minnesota, New Orleans, Oklahoma City, Orlando and San Antonio.

Persons: Diamond, ”, ___ Organizations: NBA, Diamond Sports Group, Bally Sports, Diamond Sports, Southern District of, Major League Baseball, San Diego Padres, Arizona Diamondbacks, Bally, LA Clippers, National Hockey League, NHL, Comcast, YES Network, New York Yankees, Brooklyn Nets, Chicago Cubs ’ Marquee Network, MLB Locations: Southern District, Southern District of Texas, Atlanta, Charlotte, Cleveland, Dallas, Detroit , Indiana, Memphis, Miami, Milwaukee , Minnesota, New Orleans , Oklahoma City, Orlando, San Antonio

Days after Mat Ishbia reached a deal in December to buy majority stakes in the N.B.A.’s Phoenix Suns and the Phoenix Mercury of the W.N.B.A., he met with top executives to learn more about the teams’ business operations, including how local fans were able to watch their games on TV. The executives detailed three possibilities going forward, including sticking with Diamond Sports Group, which owned the regional sports network that for more than a decade had held the rights to show the teams’ games. It might cost the teams money in the short term, but the bet was that it would help them reach more fans, including those who dropped their cable subscriptions or, like many younger fans, never had one. “What was interesting was the amount of people that were reaching out to me on social media about how they couldn’t watch the Suns games,” Mr. Ishbia said in an interview, adding: “It’s their team. To not be able to watch your game wasn’t an option that we were interested in.”

Persons: Mat Ishbia, Ishbia, ” Mr, It’s, ” Organizations: Phoenix Suns, Phoenix Mercury, Diamond Sports Group, Diamond Sports, Suns, Mercury

☆ Arizona Coyotes local games move to broadcast networks – the latest big shift in sports TV
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

The Arizona Coyotes are skating to a new TV home for local games – showcasing the pressure on cable TV bundles due to cord cutting while broadcast stations look to nab more sports media rights. Scripps Co. on Thursday that will see its local games air on over-the-air networks. The Coyotes' local games aired on Bally Sports Arizona. MLB began running the distribution of the Diamondbacks, as well as the San Diego Padres, another contract rejected by Diamond, earlier this year. The landscape for local games has dramatically shifted as consumers flee the traditional cable TV bundle and opt for streaming services.

Persons: Barrett Hayton, Diamond, Phoenix Mercury –, Gray, Scripps, Knights – Organizations: Arizona Coyotes, Dallas Stars, American Airlines Center, The Arizona Coyotes, nab, NHL, Scripps Co, Diamond Sports Group, Coyotes, Scripps, Bally Sports Arizona, Arizona Diamondbacks, Phoenix Suns, Phoenix Mercury, Diamond, Suns, Mercury, Gray Television, MLB, Diamondbacks, San Diego Padres, CNBC, Vegas, Knights, Stanley, Warner Bros, Warner Media, MLB's Houston Astros, NBA's Houston Rockets, T SportsNet, City Home Network Locations: Dallas , Texas

☆ Diamond Sports calls in mediators as it pushes toward a reorganization plan
▼ + stars: | 2023-08-17 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

On Thursday, a bankruptcy judge approved Diamond's request to bring in mediators as it is negotiates with creditors to reach a reorganization plan. Two judges from the U.S. Bankruptcy Court in the Southern District of Texas — Judges David Jones and Marvin Isgur — will preside as mediators. Last week, Diamond won court approval to extend the period of time it has to come up with a reorganization plan. Diamond has until Sept. 30 to file a reorganization plan, weeks ahead of the opening of the 2023-24 NBA and NHL seasons. Besides shedding its hefty debt load, Diamond is looking to reset some of its rights deals with teams to reflect so-called market rates.

Persons: Christopher Lopez, David Jones, Marvin Isgur —, Diamond Organizations: Ohio, Bally Sports, Cincinnati Reds, Cleveland Guardians, Progressive, Diamond Sports Group, NBA, NHL, U.S, Bankruptcy, Southern District of Texas, Diamond, Nexstar Media Group, Gray Television, Scripps Co, CNBC, Phoenix Suns Locations: Cleveland, America, Southern District

In this article SBGINXSTGTNSSP Follow your favorite stocks CREATE FREE ACCOUNTChristian Petersen | Getty Images Sport | Getty ImagesTensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Pay-TV providers are also exploring alternatives to keep local games in the bundle. The NBA's Phoenix Suns and Utah Jazz recently reached deals to be be aired on local broadcast networks run by Gray and Sinclair, respectively. "The reality is that the issue people keep talking about is the rights fees. But the rights fees aren't necessarily the question," said Berke.

Persons: Christian Petersen, Sinclair, Diamond, Bill Morrow, RSNs, George Kubas, Lee Berke, There's, Gray, Brian Lawlor, Lawlor, Jeff Speer, —, Ion, Berke, David Peralta, Kole Calhoun, Starling Marte Organizations: Getty, NBA, NHL, MLB, Scripps Co, Gray Television, Nexstar Media Group, Diamond Sports Group, Warner Bros, Broadcasters, Comcast, Charter, DirecTV, Gray, Nexstar, Communications, Ohio, Bally Sports, Cincinnati Reds, Cleveland Guardians, Progressive, Diamond Sports, Diamond, Phoenix Suns, Utah Jazz, Clipper, Las Vegas Golden Knights, NHL Stanley, Scripps, Scripps Sports, Knights, Warnes Bros, Vegas Golden Knights, Florida Panthers, Mobile, — ABC, NBC, CBS, Fox, CW Network, Nexstar's CW Network, ACC, Nascar, Suns, Arizona Diamondbacks, Oakland Athletics, Chase Field, The Diamondbacks Locations: Cleveland, Los Angeles, Las Vegas, Las Vegas , Nevada, Phoenix , Arizona

☆ Charter will offer a cheaper cable TV option without sports to reflect changing landscape
▼ + stars: | 2023-07-10 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

A change-up is coming to Charter Communications ' cable TV packages -- particularly for sports networks. The cable and broadband company said Monday that it plans to start offering a new, two-tier cable package system that will allow customers to select a cheaper, sports-free TV option. Diamond Sports Group, the owner of the largest regional sports networks portfolio, filed for bankruptcy protection earlier this year. But they're often considered expensive for consumers and could turn off potential streaming customers. Beginning in the third quarter, the company said its Spectrum-branded cable TV business will be relaunched as two new services.

Persons: That's, they're, Tom Montemagno, Dan Finnerty Organizations: Communications, Charter Communications, Diamond Sports Group, Disney, ESPN, DirecTV, — Spectrum SportsNet, SportsNet, Lakers, Time Warner Cable, Monday, Dodgers, Spectrum Networks Locations: U.S

☆ MLB will broadcast San Diego Padres games after Diamond Sports stops payments
▼ + stars: | 2023-05-31 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Daniel Camarena of the San Diego Padres hits a grand slam during the fourth inning of a baseball game against the Washington Nationals at Petco Park in San Diego, July 8, 2021. The San Diego Padres have a new home base on TV. Major League Baseball will broadcast and produce the team's local games beginning Wednesday, after the owner of Bally Sports San Diego, its regional sports network for local in-market games, dropped the team. On cable TV, Padres games will be available through four providers: Charter Communications ' Spectrum, Cox Communications, DirecTV and AT&T U-verse. MLB said it would increase the reach of local Padres games from about 1.13 million homes to roughly 3.3 million homes.

Persons: Daniel Camarena, Diamond, Manfred, Noah Garden Organizations: San Diego Padres, Washington Nationals, Major League Baseball, Bally Sports San Diego, Diamond Sports, Bally Sports San, Padres, MLB, Diamond, Miami Marlins, Diamond Sports Group, Club, Communications, Cox Communications, DirecTV, Fox Sports, Disney, Fox, Bally Sports, Sinclair Broadcast Group, Sinclair, NBA, NHL, Arizona Diamondbacks Locations: San Diego, Bally Sports San Diego

☆ US bankruptcy judge blocks NBA team Phoenix Suns' new TV deal
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

NEW YORK, May 10 (Reuters) - A U.S. bankruptcy judge on Wednesday blocked the NBA's Phoenix Suns from moving ahead with a television and streaming rights deal for its basketball games, saying the team violated the rights of its current broadcast partner, the bankrupt Diamond Sports Group. The Phoenix Suns last month announced they would broadcast future games to television and online streaming through a partnership with Gray Television Inc (GTN.N) and video technology startup Kiswe. The Suns' attorneys argued that its TV deal with Diamond expired with the end of the 2022-2023 regular season, and that the new deal would not interfere with Diamond's rights under its existing contract. "The Suns are saying one thing outside the court and another thing inside it," Lopez said. Financial terms of the Phoenix Suns' contracts with Diamond Sports and with Gray TV were kept sealed in bankruptcy court.

☆ Phoenix Suns and Mercury will air games on free TV and streaming, becoming first teams to break with bankrupt broadcaster Diamond Sports
▼ + stars: | 2023-04-29 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

The Phoenix Suns and Mercury have become the first teams to move on from the troubled broadcaster Diamond Sports Group. The NBA and WNBA's Suns and Mercury will show their games on TV and streaming going forward. The price of the streaming service hasn't been announced yet, but the teams said fans will be able to watch the Mercury for free for at least the first season. Diamond said the move violates bankruptcy law and previous contracts with the teams that expired recently, the AP reported. Suns CEO Josh Bartlestein told ESPN Diamond's claims were "inaccurate," and it wouldn't stop the teams from moving forward with the new agreement.

☆ NBA's Phoenix Suns sign new TV deal after broadcaster bankruptcy
▼ + stars: | 2023-04-28 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

[1/2] Apr 18, 2023; Phoenix, Arizona, USA; Phoenix Suns forward Kevin Durant (35) with guard Devin Booker (1) against the Los Angeles Clippers during game two of the 2023 NBA playoffs at Footprint Center. Mandatory Credit: Mark J. Rebilas-USA TODAY SportsApril 28 (Reuters) - The NBA's Phoenix Suns and WNBA's Phoenix Mercury announced a new television and streaming rights deal for their basketball games on Friday, over the objection of the bankrupt U.S. sports broadcaster that currently televises Suns regular-season games. "Cord cutters, cable subscribers, fans with an antenna – everyone will be able to watch Suns and Mercury games," Ishbia said in a statement. The Phoenix Suns current television broadcast partner Diamond Sports Group said it would oppose the deal. The Suns and Mercury did not disclose financial terms of the new broadcast deal or the terms of the current Diamond Sports contract.

☆ Storm clouds gather over highly indebted companies, Moody's says
▼ + stars: | 2023-04-19 | by ( Matt Tracy | ) www.reuters.com time to read: +3 min

Private equity-owned companies make up nearly three-quarters of Moody's list. In addition to higher interest payments, Moody's noted, many of the downgraded companies have fewer funding paths to staying afloat. Sixteen of the 30 companies that fell off Moody's at-risk list last quarter did so through defaults, not improved financial outlooks. As defaults rise, distressed debt exchanges will be the route of choice for many companies and their private equity owners, Moody's noted. Of the other companies that fell off Moody's list last quarter, seven opted instead to file for bankruptcy.

☆ Global corporate defaults highest since the pandemic in 2020
▼ + stars: | 2023-04-18 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

In a report Tuesday, credit rating agency Moody’s said 33 of the corporations it rates defaulted on their debts in the first quarter, the highest level since the last quarter of 2020 when 47 companies defaulted. Almost half, or 15 companies, defaulted last month — the highest monthly count since December 2020. In a sign of a tougher global environment for corporate borrowers, investors went sour on corporate bonds last year. Moody’s expects that a combination of higher borrowing costs and slowing global growth will push up defaults on speculative-grade corporate debt to 4.6% by the end of this year, up from 2.9% in March. By the end of the first quarter next year, the global default rate on this type of debt will likely rise to 4.9%, Moody’s said.

☆ YES Network launching streaming service to give non-cable viewers access to Yankees games
▼ + stars: | 2023-03-29 | by ( Alex Sherman | ) www.cnbc.com time to read: +2 min

The YES Network is launching a direct-to-consumer streaming service, giving non-cable subscribers the ability to watch New York Yankees games. The YES Network will charge $24.99 per month, or $239.99 annually, according to an announcement. The YES Network broadcasts games for the Yankees, the NBA's Brooklyn Nets and the WNBA's New York Liberty to fans that live in the greater New York area. "We are pleased to introduce a direct subscription option," said Yes Network CEO Jon Litner in a statement. The YES Network is co-owned by the Yankees and a corsortium of other investors including Amazon and Sinclair Broadcast Group.

☆ The largest broadcaster of local sports in US filed for bankruptcy, but still hopes broadcasts won't be disrupted
▼ + stars: | 2023-03-15 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Diamond Sports Group has filed for Chapter 11 bankruptcy protection and will restructure. Diamond operates the largest group of regional sports networks in the country, covering dozens of NBA, MLB, and NHL teams. The company said in a statement that it expects to broadcast games as planned during the restructuring. MLB created a "local media group," hiring several executives with decades of experience in regional sports broadcasting. Discovery announced that it planned to exit the regional sports business, and sever ties with its struggling AT&T Sportsnet channels, which broadcast games for several MLB, NBA, and NHL teams.

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