From CNBC: 2024-11-08 17:59:35

Major League Baseball and the Atlanta Braves have expressed concerns about the reorganization plan and future viability of Diamond Sports Group, the largest owner of regional sports networks in the U.S. MLB and the Braves are not convinced that the proposed plan is viable, citing a lack of information and clarity.

Diamond Sports has until Wednesday to respond to the objection raised by MLB and the Braves, with a bankruptcy judge set to review the reorganization plan on Thursday. Both parties are seeking more details on Diamond’s proposed commercial partnership with Amazon and its direct-to-consumer strategy.

The Braves, part of Atlanta Braves Holdings, which was split off from Liberty Media, are among the MLB teams with contracts with Diamond Sports. While the Friday objection does not indicate a complete breakup, some teams like the Cincinnati Reds have decided to exit their regional sport network owned by Diamond.

MLB is stepping in to produce local games for teams like the Guardians, Brewers, and Twins who were seeking new contracts with Diamond. This development highlights the ongoing challenges and uncertainties surrounding Diamond Sports Group’s reorganization efforts.



Read more at CNBC: MLB, Braves object to Diamond Sports reorganization plan