Diamond Sports Group Agrees to Crucial Carriage Deal with DIRECTV for Bally Sports Channels
Diamond Sports Group Agrees to Crucial Carriage Deal with DIRECTV for Bally Sports Channels
The carriage agreement is an important part of Diamond’s bankruptcy reorganization plan, but it’s not done locking up major TV providers.
Diamond Sports Group is ticking off boxes as it heads toward the end of its bankruptcy proceedings. The company owns and operates 18 Bally Sports regional sports networks (RSNs), and has been attempting to work out a viable plan for leaving the shelter of Chapter 11 protections since March 2023. Puck News reporter John Ourand reports that this week, Diamond has agreed to a new carriage deal with DIRECTV that will keep Bally Sports channels available to subscribers of the satellite service for multiple years to come, which will be critical in convincing its creditors to approve its bankruptcy reorganization plan.
Key Facts:
- DIRECTV, Comcast and Charter account for 81% of the audience of Bally Sports channels.
- Diamond’s carriage deal with Comcast expires April 30.
- DIRECTV houses Bally Sports channels on the CHOICE package of channels on its satellite service and DIRECTV STREAM.
Ourand announced the new deal on X, the social media site formerly dubbed Twitter. He did not reveal many details about the agreement, but did specify that it would be for multiple years, and would encompass all Bally Sports channels still operated by Diamond.
BREAKING: Diamond Sports has a deal in principle with DirecTV. It’s a multi-year deal for all the Bally Sports-branded regional sports networks.
— John Ourand (@Ourand_Puck) April 29, 2024
Comcast is next up for Diamond. Its deal ends tomorrow.
Full details in @PuckNews’ The Varsity tonight.
A new deal between DIRECTV and Diamond was far from a sure thing, considering some of the issues between the two companies of late. Last fall, Diamond complained to its bankruptcy court presiding officer Judge Christopher Lopez that DIRECTV had not made full carriage fee payments to the company. DIRECTV objected that it was unfairly being charged to carry [Bally Sports Arizona], despite the fact that the Arizona Diamondbacks and Phoenix Suns had both departed the channel. Bally Sports Arizona has since ceased operations.
The deal replaces a short-term agreement struck by DIRECTV and Diamond last year. That deal was only due to continue through September, but now the two sides have long-term certainty as Diamond tries to win approval for its bankruptcy reorganization plan. Bally Sports channels are available on the CHOICE package of DIRECTV, as well as DIRECTV STREAM ($108.99 per month).
What’s Next for Diamond Sports Group?
The carriage deal between DIRECTV and Diamond was an important step for the broadcaster as it tries to exit bankruptcy. Comcast, DIRECTV, and Charter Communications collectively account for 81% of the audience of Bally Sports channels, so having long-term agreements in place with these distributors is an important step toward convincing Diamond’s creditors that it can remain a going concern.
The company started with Charter, agreeing on a new carriage contract in early April. Next up is its negotiation with Comcast; as Ourand points out, the deal between Diamond and Comcast expires on Tuesday, April 30. Comcast could decide to keep Bally Sports channels available instead of pulling them if it thinks a new agreement with Diamond is close.
Once the Comcast negotiations are complete, Diamond will have to contend with the NBA and NHL. Both leagues had a deal to regain their local TV rights from Diamond after the 2023-24 season, but those deals have been negated in the course of DSG’s bankruptcy proceedings, and now the three sides must return to the table.
Diamond recently received court approval to extend the solicitation period for its reorg plan to November, though the company insists it won’t take that long. Its bankruptcy proceedings could end as early as June, especially if its negotiations with Comcast, the NBA, and NHL are as productive as its recent carriage deal talks with DIRECTV were.
DIRECTV
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