Diamond Sports, the owner of Bally Sports-branded regional networks, announced plans to drop all eleven MLB teams from its channels except the Atlanta Braves. The company is in bankruptcy and has been renegotiating contracts with the teams. Diamond’s financial struggles stem from declining subscribers due to cord-cutting and debt. Diamond's attorney stated that negotiations with MLB's Commissioner's Office have ended, though talks with individual clubs continue. Diamond remains committed to honoring NBA and NHL contracts through the end of the season.
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00:00It's Benzinga, and here's what's on the block.
00:02Diamond Sports, the owner of Bally Sports-branded Regional Networks, announced plans to drop
00:07all 11 MLB teams from its channels except the Atlanta Braves.
00:11The company is in bankruptcy and has been renegotiating contracts with the teams.
00:16Diamond's financial struggles stem from declining subscribers due to cord-cutting and debt.
00:21Diamond's attorney stated that negotiations with MLB's commissioner's office have ended,
00:25though talks with individual clubs continue.
00:28Diamond remains committed to honoring NBA and NHL contracts through the end of the season.
00:32For all things money, visit Benzinga.com.