Amazon's Prime Video has reached a deal with Diamond Sports to stream its 16 regional sports networks as an add-on subscription for Prime customers in designated areas. This non-exclusive agreement is part of Diamond's strategy to exit bankruptcy with a new business model, following its rebranding to FanDuel Sports Network. Diamond also plans to offer games on a pay-per-game basis and is seeking court approval for its reorganization plan, which has faced scrutiny from Major League Baseball and the Atlanta Braves.
Amazon has acquired a minority stake in Diamond Sports Group's Bally Sports regional networks, allowing games televised on Bally Sports channels to be streamed on Amazon Prime, benefiting nearly 40 MLB, NBA, and NHL teams with local television contracts. This move comes as part of Diamond's bankruptcy restructuring, providing a potential stabilizing force in the uncertain television landscape for professional sports teams across the country.
Amazon is set to partner with Diamond Sports as part of a restructuring agreement to help the largest owner of regional sports networks emerge from bankruptcy. Diamond Sports, which owns 18 networks under the Bally Sports banner, has been in Chapter 11 bankruptcy proceedings with a debt of $8.67 billion. The agreement includes Amazon making a minority investment in Diamond and entering into a commercial arrangement to provide access to Diamond's content via Prime Video. This deal aims to prevent a collapse of the regional sports network system and will allow customers to access local team content on Prime Video channels.
