• Loading stock data...
Sunday, February 9, 2025

DSG Seeks Extension As Reorganization Pressure Mounts

  • Bankrupt RSN operator looks to file restructuring plan in late November
  • Company faces business, legal pressure on multiple fronts
Diamond Sports Group

Facing growing pressures from leagues, teams, creditors, distributors, and accelerating industry trends, Diamond Sports Group is once again asking a court for more time to prepare a reorganization plan. 

After previously getting an extension to file that plan on Sept. 30, the Bally Sports parent has gone back to U.S. Bankruptcy Court in Texas to seek additional time to formally restructure itself.

The company is now requesting a new filing date of Nov. 29 — one that extends well into the upcoming NHL and NBA regular seasons. If approved, DSG would then have an additional two months to solicit approval for the plan from its creditors.

“The debtors’ Chapter 11 cases are tremendously complex and are occurring while the cable industry is rapidly changing due to subscribers’ persistent ‘cord cutting’ as they move away from traditional cable and satellite multichannel video distributors,” DSG said.

“Navigating these choppy waters requires discussions with, and cooperation from, many parties, including multiple creditor groups, sports leagues, teams, and MVPDs. With the NBA and NHL seasons almost here, and a key MVPD contract up for renewal, the debtors realize that time is short and each day matters.”

Last month, DSG struck a multiyear rights agreement with the NHL’s Los Angeles Kings, a pact it hopes will be a template in the reorganization efforts. But failing a larger, successful reorganization plan, the likelihood of DSG’s liquidation increases sharply. 

DSG is also in the midst of an interrelated legal fight with parent company Sinclair Inc.  

RSN Changes In Houston

As expected, the Houston Astros and Houston Rockets have acquired the former AT&T SportsNet Southwest from Warner Bros. Discovery and are rebranding the RSN as the Space City Home Network, effective Tuesday.

The RSN will be co-owned by the Astros and Rockets as a joint venture and show both teams, with the network’s first live game being a Rockets preseason contest on Oct. 10.

WBD has signaled its intent to leave the RSN business. The company recently parted with AT&T SportsNet Pittsburgh in a sale to Pittsburgh Penguins owner Fenway Sports Group and is set to shut down AT&T SportsNet Rocky Mountain in Denver.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Super Bowl Ticket Prices Still Dropping As Lodging Costs Soar

Prices have fallen by another 20% since Monday amid a local lodging crunch.

ESPN Faces Potential Exit from MLB Media Rights As Opt-Out Looms

A 35-year rights relationship now faces a very different media landscape.

Seidler Approved As Padres Owner; Manfred on Dodgers Spending

Manfred also defends the Tampa market and the Dodgers’ offseason conduct.

NFL Exec: We’re Reaching More Fans Without Spreading Too Thin

NFL media executive Brian Rolapp is bullish on the evolution of streaming.

Featured Today

Brady and Mahomes

Chiefs Fatigue Is Real. It’s Nowhere Near Patriots Hate Yet

People who have covered both teams say the difference is stark.
Nov 24, 2024; Inglewood, California, USA; Philadelphia Eagles quarterback Jalen Hurts (1) celebrates with running back Saquon Barkley (26) after the Eagles defeat the Los Angeles Rams during the first half at SoFi Stadium.
February 7, 2025

How the Eagles Reinvented Championship Roster Construction

Philadelphia is one of the most innovative franchises in the NFL.
February 3, 2025

‘Ultimate Throwback’: The Unimpeachable Cool of Hartford Whalers Gear

Nostalgia and street cred have driven a consistent frenzy for merch.
January 20, 2024; Santa Clara, CA, USA; Kristin Juszczyk, wife of San Francisco 49ers fullback Kyle Juszczyk (44), before a 2024 NFC divisional round game against the Green Bay Packers at Levi's Stadium.
February 1, 2025

The New WAGs: Sports Wives Building Business Empires

Athletes’ wives and girlfriends are bucking stereotypes and cashing in.
exclusive

5 Big Sound Bites From Radio Row at Super Bowl LIX

Straight shooting from Greg Olsen, Billie Jean King, and more.
Nov 23, 2024; Las Vegas, Nevada, USA; Mercedes AMG Petronas driver Lewis Hamilton (44) leads Oracle Red Bull Racing driver Max Verstappen (1) during the Las Vegas Grand Prix at Las Vegas Circuit.
February 7, 2025

Netflix Exploring Bid for Formula One Rights in U.S. Starting 2026

ESPN holds the rights to F1 through 2025.
February 7, 2025

Jameis Winston Eyes NFL Return, but Keeps Door Open for Potential TV..

Jameis Winston played for the Browns last season.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
February 7, 2025

How Much Longer Can Fox Sports Keep the Top-Rated Pregame Crew Together?

The three have been at Fox NFL Sunday since 1994.
Stephen A. Smith
exclusive
February 5, 2025

Stephen A. Smith Says Deal to Return to ESPN Coming ‘Very, Very..

Smith’s old contract was set to expire this summer.
Dec 29, 2024; Minneapolis, Minnesota, USA; FOX broadcaster and former NFL quarterback Tom Brady looks on before the game between the Minnesota Vikings and the Green Bay Packers at U.S. Bank Stadium.
February 5, 2025

Tom Brady Cagey About Scope of Role With Raiders

Brady was approved as a minority owner in the Raiders in October.
February 5, 2025

Disney Earnings Highlight ESPN Comeback; Iger High on NBA’s Future

Revenues and operating income grow at the ESPN parent company.