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The company that oversees Bally Sports’ regional sports network, which broadcasts local Mavericks, Stars and Rangers games, is reportedly on the brink of a major financial overhaul.
Diamond Sports Group, which operates Bally Sports Southwest under Sinclair Broadcast Group, is nearing a possible $8.6 million debt restructuring in bankruptcy court, according to Bloomberg.
Think of this latest news about broadcasters at risk as a macro-level problem on top of the local access headaches many Dallas sports fans have faced over the past few years.
According to Bloomberg, the impending bankruptcy filing is about $2 billion that Diamond and Sinclair owed the team in broadcasting rights fees this year as part of a deal to broadcast local games in 21 markets across the United States, including Dallas. It helps you manage your debt.
Bloomberg, citing unnamed sources, said Diamond will likely skip the $140 million interest payment due in mid-February, and through a prearranged Chapter 11 process It reported that it hopes to convert much of its debt to its largest lenders into equities.
Payment changes and delays can cause significant problems for our broadcasting partners, including the NBA, NHL and MLB.
Bloomberg reports that Diamond expects to complete its restructuring by May or June, the outlet reported. In that timeline, the Mavericks and Stars are unlikely to face any significant mid-season disruption of local broadcasts.
The NBA, for example, will only offer national coverage after the first round of the playoffs, which ends in late April.
Still, that’s little consolation for fans who’ve endured frequent turnovers and access issues with several iterations of the Fox Sports Southwest to Bally Sports Southwest drama.
Bally Sports Southwest is not yet available on YouTube TV, Hulu Live, or other popular streaming services. DirecTV Stream.
Earlier this month, FuboTV reached an agreement to return to airing the Bally Sports channel, though it has not disclosed when it will begin. DirecTV Stream and Traditional Cable Options DirecTV and Spectrum are currently the only options that allow local fans to receive local sports networks as part of a larger subscription plan.
This fall, Diamond announced Bally Sports+, a $20+ monthly subscription to a single Bally Sports channel available in select territories. Bloomberg reported that the company is considering a new service that allows fans to pay for individual games or the last few games. minute.
However, many of the Mavericks surveyed earlier in the season cited high prices for one channel, technical issues with the app, and Sinclair’s disapproval as reasons for declining subscriptions.
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