by Related media – Related media
The Phoenix-area franchises are part of a growing wave of teams doing the same. The San Diego Padres, like the Diamondbacks, ended their agreement with Diamond Sports, the largest regional sports network provider. Major League Baseball used its broadcasting and streaming capabilities to keep the teams on the air and guaranteed they would get 80 percent of the revenue they received in their Diamond Sports deals.
Diamond Sports, which must make at least $400 million in annual debt payments, is in talks with its creditors, some of whom want to reshape the company’s business while others want to be bought out. Diamond Sports is also in talks with the N.B.A. and other leagues about reducing their rights fees.
A company spokesperson declined to comment on the talks with creditors and the leagues.
Last year, Monumental Sports Network, which is owned by Ted Leonsis, the owner of the Washington Wizards (N.B.A.), Capitals (N.H.L.) and Mystics (W.N.B.A.), bought NBC Sports Washington and unveiled a new streaming service. The N.H.L.’s Vegas Golden Knights said in May that they planned to shift to a free over-the-air channel. The N.B.A.’s Utah Jazz and Los Angeles Clippers are selling their games and programming directly to viewers with streaming packages, with the Jazz also broadcasting their games on a free channel.
The Jazz are “probably the largest real media company in the state,” Ryan Smith, the team’s owner, said in an interview this year. “If you actually think about the N.B.A., we’re not that different than a media or tech company.”
Linked media – Associated media
