Diamond Sports Emerges from Bankruptcy as Teams Shift to Amazon Prime

Diamond Sports Group has been approved to exit bankruptcy after a 20-month process, reducing its sports broadcasting portfolio and focusing on direct-to-consumer streaming options. The company, which operates regional sports networks, has renegotiated contracts with several NBA, NHL, and MLB teams, including a new streaming deal with the Atlanta Braves. Despite shedding over $8 billion in debt, Diamond still faces skepticism, particularly from MLB, which had previously criticized its financial outlook. The company projects significant growth in its streaming business while traditional TV revenues decline.