Sopa Images | Light Rocket | Getty Images
diamond sports achieve reach an agreement Amazon’s Prime Video will allow its 16 regional sports networks to be broadcast on the streaming platform.
As part of the deal, Diamond’s network will be available as an add-on subscription to Prime customers who live within each team’s designated geographic area. More details, including pricing, will be announced later. Financial terms of the multi-year agreement were not disclosed.
This marks the latest development in Diamond Sports’ pursuit of exiting bankruptcy protection with an improved business model.
October, Diamond inked naming rights deal flutterOwns FanDuel, renaming its network from Bally Sports to FanDuel Sports Networks. The name change comes immediately during the National Hockey League season and before the start of the 2024-2025 National Basketball Association season.
On Thursday, Diamond will seek court approval of its restructuring plan, which has drawn Criticism from Major League Baseball and the Atlanta Braves, who questioned the company’s future viability under the plan.
Both the league and the Warriors have demanded further clarity on what the partnership with Amazon, which at the time had yet to be solidified, would entail.
Diamond sought bankruptcy protection last year due to a heavy debt load and the impact of disconnections caused by consumers opting out of cable bundles and streaming services.
Diamond has also signed TV and streaming rights deals with the NBA and NHL for their respective teams. It has been in separate negotiations with MLB teams.
Various regional sports networks, including the New York Yankees YES Network, have launched streaming options in recent years. Amazon’s Prime Video has become a stakeholder in the YES Network, airing select Yankees games each season.
Pricing has remained elevated as networks have been cautious in pricing their streaming options so as not to further disrupt the cable model and violate contracts with distributors. The contracts have long helped networks pay billions of dollars in broadcast fees to professional sports teams.
