Local broadcasts for Minnesota Wild, 10 other NHL teams will remain on Bally Sports after agreement
December 21, 2023
Agreement is to have Bally retain broadcast rights for this year, then revert to the league / teams next season.
5 comments
> The NHL and Diamond Sports Group, the largest owner of regional sports networks, have reached an agreement that will keep local broadcasts for 11 teams on Bally Sports through the end of this season.
> The agreement, which was contained in a court filing made Wednesday, is subject to court approval. Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection in March. The company said in a financial filing last year that it had debt of $8.67 billion.
> While there will be a reduction in rights payments for some teams, the local rights for those 11 franchises will revert back to the NHL at the end of this season.
How do you screw up televising sports so bad that you end up $8.67 BILLION in debt?
They will teach this situation in business schools. Sinclair bought all these regional sports networks and promptly pulled them off 90% of cable/satellite providers under the assumption that the providers would crawl back willing to pay double the previous price. That never happened and people just got used to not watching these games on TV anymore. They literally did this to themselves with a) a bad decision and then b) too much pride to undo what they had done. At some point it was just too late. Hard to make money when you don’t have any customers.
Nooooooooooooooooookokok
NHL buying time to pull something together for next season?
5 comments
> The NHL and Diamond Sports Group, the largest owner of regional sports networks, have reached an agreement that will keep local broadcasts for 11 teams on Bally Sports through the end of this season.
> The agreement, which was contained in a court filing made Wednesday, is subject to court approval. Diamond Sports has been in Chapter 11 bankruptcy proceedings in the Southern District of Texas since it filed for protection in March. The company said in a financial filing last year that it had debt of $8.67 billion.
> While there will be a reduction in rights payments for some teams, the local rights for those 11 franchises will revert back to the NHL at the end of this season.
How do you screw up televising sports so bad that you end up $8.67 BILLION in debt?
They will teach this situation in business schools. Sinclair bought all these regional sports networks and promptly pulled them off 90% of cable/satellite providers under the assumption that the providers would crawl back willing to pay double the previous price. That never happened and people just got used to not watching these games on TV anymore. They literally did this to themselves with a) a bad decision and then b) too much pride to undo what they had done. At some point it was just too late. Hard to make money when you don’t have any customers.
Nooooooooooooooooookokok
NHL buying time to pull something together for next season?