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Bally to Declare Bankruptcy Next Week
Posted on 2/10/23 at 3:54 pm
Posted on 2/10/23 at 3:54 pm
quote:
Diamond Sports Group, a collection of 19 regional sports networks (RSNs) doing business as Bally Sports, is planning to file for bankruptcy next week, according to multiple people familiar with the plan. The group currently controls the local broadcast rights to more than 40 teams in the NBA, NHL and MLB, and its bankruptcy would be a significant blow to the cable network model that has lucratively buoyed U.S. sports for the past 50 years
LINK
Posted on 2/10/23 at 3:56 pm to supe12sta12z
I wonder when the NBA will lift its in market blackout for League Pass in the markets with Bally’s
Posted on 2/10/23 at 3:56 pm to supe12sta12z
ELI5 what this means for the Pels and/or NBA...
Posted on 2/10/23 at 4:11 pm to supe12sta12z
Waiting for the Bally's Closing Liquidation Sale. $0.99/month streaming.
Posted on 2/10/23 at 4:15 pm to supe12sta12z
Damn someone coming through downvoting everything on this thread, wonder who on this board works for Sinclair?
Posted on 2/10/23 at 4:20 pm to shel311
quote:
ELI5 what this means for the Pels and/or NBA...
I think it means the odds are high that the sports leagues will get their rights back to distribute directly to fans, and/or partner with someone like Apple/Amazon as local distribution partners.
From an article I posted last month, the MLB, NHL, and NBA withdrew an offer of about $3 Billion to buy the networks in December, which suggested to me they thought it would be cheaper once we got to this stage. It might be even more devious than that.
In this article the MLB commissioner said it would be prepared to broadcast games if Sinclair couldn't. Could they be looking at it as a breach of contract and just get all of their rights back at once for free without having to buy them back?
This post was edited on 2/10/23 at 4:22 pm
Posted on 2/10/23 at 4:37 pm to TigerinATL
quote:I'm sure it's all laid out in the contract, but you'd think if they can't fulfill their obligation to air the sporting events, that the leagues should logically get those rights back for free. But who knows.
Could they be looking at it as a breach of contract and just get all of their rights back at once for free without having to buy them back?
Posted on 2/10/23 at 4:40 pm to shel311
What does this mean for services like youtubeTV and hulu Live? Those currently don't carry bally, it sounds like the NBA might buy back those rights
Posted on 2/10/23 at 5:15 pm to supe12sta12z
Likely a restructuring of debts only, from what I've heard. I would be surprised if they sell off media rights to NBA and MLB (do they own NHL too? I honestly don't know).
Posted on 2/10/23 at 5:30 pm to supe12sta12z
quote:
Bally to Declare Bankruptcy
That's a shame
Posted on 2/10/23 at 5:49 pm to supe12sta12z
So does this mean I won’t be able to watch the games on the Ballys network anymore? I think it’s channel 676-4 on Directv.
Posted on 2/10/23 at 6:05 pm to LSUPilot07
I wouldn't expect anything to change immediately. The word bankruptcy is usually associated with businesses shutting down, but most of the time it's really about restructuring debt.
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