Amazon's Major Investment in Diamond Sports Group Reshapes Streaming Landscape

Amazon has committed to making a minority investment in Diamond Sports Group as part of the RSN company's bankruptcy reorganization plan, which includes a new streaming deal. Under the terms of the investment, Amazon will provide access to Diamond's services via Prime Video, allowing customers to purchase direct-to-consumer access to stream local Diamond channels, including live MLB, NBA, and NHL games. Diamond also announced an agreement in principle with parent company Sinclair to settle pending litigation, with Sinclair agreeing to pay Diamond $495 million in cash and provide ongoing management and transition services.