Bally Sports RSNs Are Reportedly Preparing For Bankruptcy

[comfortably_numb]

( I have no idea how many are in Bally areas).

From Wikipedia:

Optimum offers Internet, television, mobile and home phone serving in Arizona, Arkansas, California, Connecticut, Idaho, Kentucky, Louisiana, Mississippi, Missouri, New Jersey, Long Island and New York, North Carolina, Ohio, Oklahoma, Pennsylvania, Texas, and West Virginia.

So it probably involves Bally Midwest, Ohio, South and Southwest

 

[Bruce]

And more News-

Bally's bankrupt operator, Diamond Sports Group, asks court to terminate its deal with the Dallas Stars one day after the Florida Panthers announce their own plans to bolt their RSN.

My guess, the Texas Rangers are next, they have a massive, over $100 Million rights deal with Diamond, that was signed before Sinclair bought the former Fox Sports RSNs.

Have to look extra lean and profitable before the next Court date-

Diamond's league partners have less faith than ever that the RSN unit can continue on, and the man overseeing the company's restructuring, Judge Chris Lopez, already declared that the subsidiary is out of chances for delay and must present a clear restructuring plan starting on July 29.


Bally Sports Meltdown Accelerates: NHL's Dallas Stars Set to Follow Stanley Cup Champion Florida Panthers Out of the RSN

 

[PioneerDJ]

Dallas Stars partnering with A Parent Media Co. Inc to stream games on a FAST channel (only in Texas, Oklahoma, Louisiana and Arkansas)

 

[Bruce]

And more news-

MSN

Then this from the link-

Once the 2024 season ends, the rights held by Diamond Sports Group will revert back to their respective clubs.

MLB is hellbent on dropping Diamond as a Television partner, once that happens, Diamond’s RSNs become basically useless, what provider wants to pay a full price for a RSN that does not have sports on.

NBA looks to be gone also, that contract ended at the end of the season.

 

[comfortably_numb]

Once the 2024 season ends, the rights held by Diamond Sports Group will revert back to their respective clubs.

Good. Hopefully MLB will allow each team to do their own thing and some of them will go OTA. I'm probably just dreaming, though.

 

[savarese04]

Are we back from the brink? I don't know, but I'm thinking the judge gives them the chance to go for it. We'll probably be back in this same boat next spring.....

I'm curious to see what they rebrand as (provided they stay alive).

Bally Sports Secures NBA, NHL Rights Through 2024-2025, But Will Drop Two Teams | Cord Cutters News

In a significant development for sports broadcasting, Bally Sports’ parent company, Diamond Sports Group, announced today a deal to retain broadcasting rights for the majority of NBA and NHL teams through the 2024-2025 seasons. However, the agreement does not include the Dallas Mavericks and the...

cordcuttersnews.com

 

[Bruce]

Are we back from the brink? I don't know, but I'm thinking the judge gives them the chance to go for it. We'll probably be back in this same boat next spring.....

I'm curious to see what they rebrand as (provided they stay alive).

Bally Sports Secures NBA, NHL Rights Through 2024-2025, But Will Drop Two Teams | Cord Cutters News

In a significant development for sports broadcasting, Bally Sports’ parent company, Diamond Sports Group, announced today a deal to retain broadcasting rights for the majority of NBA and NHL teams through the 2024-2025 seasons. However, the agreement does not include the Dallas Mavericks and the...

cordcuttersnews.com

I heard they had to take a cut in per sub fees, with their 3 biggest providers, Comcast, DirecTV, Charter, along with only being on Comcast’s most expensive tier, Altice ( former Cablevision) also cut them from the line up.

So, they will be taking in less money then last year, will it be enough, no idea, but this is a business that is losing per subs every day.

Still do not have a agreement with MLB, who seems they are happy to have Diamond just go away, so they can start a new service on their own.

 

[MrMars]

Are we back from the brink? I don't know, but I'm thinking the judge gives them the chance to go for it. We'll probably be back in this same boat next spring.....

I'm curious to see what they rebrand as (provided they stay alive).

Bally Sports Secures NBA, NHL Rights Through 2024-2025, But Will Drop Two Teams | Cord Cutters News

In a significant development for sports broadcasting, Bally Sports’ parent company, Diamond Sports Group, announced today a deal to retain broadcasting rights for the majority of NBA and NHL teams through the 2024-2025 seasons. However, the agreement does not include the Dallas Mavericks and the...

cordcuttersnews.com

They have a deal to be rebranded as Fanduel after the MLB season ends.

FanDuel reportedly taking over naming rights on Diamond's Bally Sports networks

Diamond Sports Group revealed they have a new naming rights partner for Bally Sports RSNs and it's reportedly FanDuel.

awfulannouncing.com

(This is if the Judge signs off on everything)

 

[Joe The Dragon]

Yep, this is what I've been saying for awhile now is likely to happen. The DTC apps operated by MLB, NBA and NHL will expand to offer subscriptions to your in-market team too or the league will partner up with an exclusive streaming partner the way that MLS did with Apple. In either case, the leagues may have to come to some new revenue-sharing agreement among teams to make it all work.

But yes, as everyone knows, the RSN model is broken. There are just too few folks still willing to pay for big cable TV packages that include those channels. So if the vast majority of regular season games can't be distributed as part of the cable bundle any more, then they'll have to figure out a way to profitably distribute them outside it.

well you can pick up the people who just want one team, just want there local team, just want 1 sport, people who just want sports and not the all of the other stuff (the cost of the non sports channels are not really that high but there is room for sports only packs) or not be forced to pay for locals that you can pick up on your own.

 

[Jimbo]

well you can pick up the people who just want one team, just want there local team, just want 1 sport, people who just want sports and not the all of the other stuff (the cost of the non sports channels are not really that high but there is room for sports only packs) or not be forced to pay for locals that you can pick up on your own.

How about those that want a team or two that are Not the Local team ?????

 

[Mochuf]

How about those that want a team or two that are Not the Local team ?????

Isn't that what things like MLB.TV are for?

 

[Bruce]

How about those that want a team or two that are Not the Local team ?????

Switch to Dish or YTTV, then you no longer receive the RSN annd pay for something you never watch, then get MLB.TV.

 

[Jimbo]

Isn't that what things like MLB.TV are for?

Yes, but the game has to come from somewhere, someone is responsible for pitting that signal out there.

When a game is played and the crew produces the feed, is that the RSN or the Team or who, that owns it ?

If the RSN owns it and they go out of business ... right now, where does it go ?

The MLB.TV feed comes and belongs to someone ...

 

[Yespage]

So Diamond overleverages to get the sport networks, can't pay the bills, then they are allowed to shaft debt holders and get to keep the channels, despite the model likely still not working?

 

[navychop]

Sure sounds like it.

 

[Bruce]

So Diamond overleverages to get the sport networks, can't pay the bills, then they are allowed to shaft debt holders and get to keep the channels, despite the model likely still not working?

Just like Dish with the Spectrum.

Businesses have been doing this for so many years, usually it is up to the Chapter 11 Judge if successful.

 

[Yespage]

Not certain it is fair to say 'just like Dish' as the parallel isn't particularly accurate other than "debt". Dish bought a lot of spectrum on the card. But they also were trying to build out something new, create something. Dish's underlying Sat model is sunsetting due to the market, not because they can't afford the interest payments. Dish is trying to transition to remain a viable corporation... via a lot of debt.

Sinclair bought up stuff that already existed to supplement with gambling (without researching it at all it seems), tried to shutter a few of the smaller markets, and were on the verge of bringing down the companies they bought on leverage. What Sinclair did is more like what private equity have done with Toys R Us, where a profitable company was rendered "unprofitable" as the costs to purchase it, sunk it.

 

[Bruce]

Not certain it is fair to say 'just like Dish' as the parallel isn't particularly accurate other than "debt". Dish bought a lot of spectrum on the card. But they also were trying to build out something new, create something. Dish's underlying Sat model is sunsetting due to the market, not because they can't afford the interest payments. Dish is trying to transition to remain a viable corporation... via a lot of debt.

Now your words

So Diamond overleverages to get the sport networks, can't pay the bills, then they are allowed to shaft debt holders and get to keep the channels, despite the model likely still not working?

So, with some slight changes-

So Dish over-leverages to get the spectrum, can't pay the bills (as of November, they have already said they cannot fund fourth quarter operations or pay the debt), then they are allowed to shaft debt holders ( if they declare Chapter 11) and get to keep the service, despite the model (Pay Live TV) likely still not working?

 

[Bruce]

Diamond has lost the Amazon investment-

Amazon Pulls Back From $115 Million Bally Sports Investment

Reported move comes after Amazon secures its own NBA and NHL rights

www.nexttv.com

 

[zippyfrog]

Diamond has lost the Amazon investment-

Amazon Pulls Back From $115 Million Bally Sports Investment

Reported move comes after Amazon secures its own NBA and NHL rights

www.nexttv.com

That can't help their situation...I didn't expect this to happen - I thought Amazon would be more involved now that they have their own NBA rights.