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Nearly a month to the day after a Houston court agreed to postpone a crucial confirmation hearing in the Diamond Sports Group bankruptcy case, the owner/operator of the country’s largest group of regional sports networks has finalized deals to continue televising games for 20 NBA and NHL teams in their local markets.
In a series of filings with the U.S. Bankruptcy Court for the Southern District of Texas, Diamond on Friday disclosed that it has agreed to honor its legacy TV agreements with the bulk of its NBA and NHL partners.
On the hoops side of the ledger, DSG will forge ahead with the Atlanta Hawks, Charlotte Hornets, Cleveland Cavaliers, Detroit Pistons, Los Angeles Clippers, Memphis Grizzlies, Miami Heat, Milwaukee Bucks, Minnesota Timberwolves, Oklahoma City Thunder and San Antonio Spurs “through at least the end of the 2024-2025 NBA season.”
The deals require the approval of U.S. Bankruptcy Judge Christopher Lopez, who has repeatedly urged the parties to reach arrangements on their own rather than wait for him to issue orders that favor one side or the other. Lopez’s recommendations are consistent with the federal bankruptcy process, which is designed to encourage settlement and mediation on the idea that the interested parties are in the best position to resolve their dispute.
As part of its go-forward plan with the NBA, Diamond will file motions to reject the contracts of the Dallas Mavericks and New Orleans Pelicans. The latter separation was foreshadowed earlier this month when the Pelicans announced that they’d inked a multiyear deal with Gray Television affiliate WVUE-TV (Fox 8/Bounce TV) to air 70 games per year in their hometown market. As Mark Cuban himself has said more than once, Dallas has long been considering a split from Bally Sports Southwest.
For pay-TV subscribers, the Mavs’ RSN is arguably one of the more reasonably priced local sports outlets, with an average monthly subscriber fee of around $3.35. By comparison, Bally Sports Detroit fetches approximately $6.88 per sub per month, while Diamond’s Ohio-based RSN is the priciest on the dial at $7.42.
Cutting ties with the Mavs…
Source link : https://sports.yahoo.com/diamond-sports-group-reaches-deals-214306681.html
Author : Sportico
Publish date : 2024-08-23 21:43:06
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