'Bankrupt Diamond Sports Gets Extension To Score MLB Streaming Deal With Amazon' - NY Post
Portfolio Pulse from Benzinga Newsdesk
Diamond Sports, operating under Bally's name and owning rights to various sports teams, is in bankruptcy and negotiating a streaming deal with Amazon for MLB rights. A judge extended the negotiation period, delaying a hearing to January 19. Diamond's senior lenders support a plan to wind down operations after 2024, while junior lenders led by Prudential aim to keep the company afloat. The junior lenders are also in talks with Sinclair Broadcasting over a lawsuit.
January 11, 2024 | 3:33 pm
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NEUTRAL IMPACT
Sinclair Broadcasting, parent of Diamond Sports, is in settlement talks over a lawsuit related to Diamond's debt. The outcome could affect Sinclair's financial liabilities.
The impact on Sinclair Broadcasting's stock is uncertain as it depends on the outcome of the settlement talks and the lawsuit. The relevance is moderate because Sinclair is the parent company, but the importance is not at the highest level due to the complexity and unpredictability of legal outcomes.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Amazon is in talks with Diamond Sports for streaming rights to MLB teams. A successful deal could enhance Amazon's streaming content portfolio.
Amazon's potential acquisition of streaming rights from Diamond Sports could attract more subscribers to its platform, positively impacting its stock in the short term. The relevance is high as Amazon is a key player in the negotiations, but the importance is moderate because Amazon's business is diversified beyond streaming deals.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70