Amazon deepening interest in sports content, discussions are underway regarding a potential investment in Diamond Sports, a regional sports programming entity. This development, brought to light by insiders, has been reported by the Wall Street Journal on Monday.
Negotiations Unveiled: Amazon’s Role in Diamond Sports’ Future
Diamond Sports Group, currently navigating a bankruptcy filing despite its rights to broadcast games for over 40 major sports teams in the United States, is deeply immersed in negotiations with Amazon. The talks not only involve a strategic investment but also the establishment of a multi-year streaming partnership with Diamond Sports.
Should these negotiations materialize, the outcome could position Amazon’s Prime Video platform as the exclusive streaming home for Diamond’s diverse portfolio of sports games.
Despite financial challenges, Diamond Sports Group, holding local rights for nearly half of Major League Baseball teams, National Basketball Association teams, and approximately a third of National Hockey League teams, remains steadfast in sustaining its cable networks through existing collaborative agreements.
Secrecy Shrouds Financial Details Amid Creditor Support
While financial intricacies, including the investment amount and valuation, remain undisclosed, reports indicate that Amazon’s investment proposition has garnered support from a select group of creditors, thereby facilitating further discussions.
Sinclair Broadcast, the overseeing parent company of Diamond, has chosen not to provide comments on the ongoing talks. As of now, both Amazon and Diamond Sports have refrained from responding to Reuters’ requests for comments on this matter.
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