![]() The proliferation of consumers cutting their traditional pay-TV bundles in favor of streaming services has weighed on the regional sports network business. Currently, Diamond has deals with all its NBA and NHL teams, plus a handful of MLB teams for the streaming rights. In particular, Diamond has been pushing to hold the direct-to-consumer streaming rights to all MLB teams that air on its networks. The judge's ruling came after a two-day hearing that included testimony from MLB Commissioner Rob Manfred and showcased the tensions between the league and Diamond Sports.Ī Diamond spokesperson said in a statement Friday that in keeping with the bankruptcy judge's orders, "we look forward to engaging with MLB and our team partners to negotiate a go-forward rights package that works for all parties and positions Diamond for long-term success." As with the Padres, MLB will stand ready to make games available to fans if Diamond fails to meet its obligations." "MLB appreciates the ruling from the Federal Bankruptcy Court in Houston requiring Diamond to pay the full contractual rate to Clubs," an MLB spokesperson said in a statement Friday. "As always, we hope Diamond will continue to broadcast games and meet its contractual obligations to Clubs. The in-court matter didn't affect the status of the Padres situation. The decision comes after MLB earlier this week announced it would begin producing and distributing San Diego Padres games on pay-TV bundles and its MLB.TV streaming service after Diamond stopped making payments to the team. If Diamond doesn't make the remainder of the payments owed to the teams, those teams can walk away from their contracts with the company, a judge ruled. Diamond had already paid the teams up to 75% of the payments owed earlier in its bankruptcy, court papers show. The company had been looking to cut down the payments owed to four MLB teams - the Arizona Diamondbacks, Cleveland Guardians, Texas Rangers and Minnesota Twins - which caused it to go toe-to-toe with MLB officials in bankruptcy court this week. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |