Amazon invests in Diamond Sports regional networks, expanding empire

Diamond Sports, owner of 18 regional sports networks, announced its restructuring plans on Tuesday to emerge from bankruptcy, which includes an investment from Amazon.

The media company, which has the rights for MLB, NHL, and NBA teams in several major markets across the country under the Bally Sports brand, announced that Amazon has committed to a “minority investment” and an agreement to give access to Diamond Sports programs through Amazon’s Prime Video.

“We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024,” Diamond Sports CEO David Preschlack said in a statement on Wednesday.

“We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential
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