The largest broadcaster of local sports in US filed for bankruptcy, but still hopes broadcasts won't be disrupted
reported that MLB said last month and again in a statement Tuesday that it expects Diamond to be able to broadcast games during the restructuring, but the league also is prepared to broadcast games if Diamond or another RSN is unable to do so. MLB created a"local media group," hiring several executives with decades of experience in regional sports broadcasting.
The bankruptcy filing from Diamond comes amid larger troubles in the RSN industry, which has been one of the most profitable forms of TV for decades due to its consistent audience and the high rights-fees, included in cable TV packages for years. However, as cord-cutting grew and streaming became more prevalent, the profit of the channels began to shrink.
, Warner Bros. 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.Subscribe to push notifications
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