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Restructuring Agreement

All articles tagged with #restructuring agreement

sports-business2 years ago•4 min saved

"DSG Bankruptcy: Amazon's Investment and Sports Impact"

Diamond Sports Group has reached a restructuring agreement with debt holders, allowing Amazon to acquire streaming rights for NBA, NHL, and MLB teams. The deal is pending approval from the bankruptcy court, with Amazon set to pay $115MM initially and a possible additional $50MM. Diamond is seeking to renegotiate broadcasting deals with some MLB teams, leaving uncertainty for the affected clubs. Meanwhile, MLB may handle broadcasts for teams without RSN deals, including the Rockies, D-Backs, Padres, and potentially the Guardians, Rangers, and Twins.

via MLB Trade Rumors|

#amazon #broadcasting-rights #dsg-bankruptcy

business2 years ago•1 min saved

Carvana's Debt Reduced by $1.2 Billion, Shares Soar 30%

Carvana has announced a deal with noteholders to reduce its total debt by over $1.2 billion, eliminating more than 83% of its unsecured note maturities and lowering cash interest expenses by over $430 million per year for the next two years. The agreement, which covers $5.2 billion of senior, unsecured bonds, includes Apollo Global Management, Carvana's largest bondholder. Following the announcement, Carvana's stock soared 30% in premarket trading. The company has been working on this debt reduction deal for over a year to address its heavy debt load and improve financial flexibility.

via CNBC|

#business #carvana #debt-reduction