"Amazon's Investment Rescues Diamond Sports from Bankruptcy"

Amazon is investing in Diamond Sports Group, the operator of Bally-branded regional sports networks, as part of a plan for the company to emerge from Chapter 11 bankruptcy protection. The investment includes a minority stake in Diamond, and Prime Video will become the primary route for customers to buy Bally Sports streaming access. Additionally, a group of creditors will provide $450 million in financing to help Diamond pay down debt and fund its operations. The plan also involves Sinclair paying $495 million to settle pending litigation with Diamond, and the company will provide ongoing management and transition services to support Diamond's reorganization and separation from Sinclair's operations.