Diamond Sports Group announces Main Street Sports Group rebrand
Diamond Sports Group announces Main Street Sports Group rebrand
The regional sports network company is emerging from bankruptcy with a new name.
The bankruptcy proceedings for Diamond Sports Group have officially ended. The company won near-unanimous approval for its reorganization plan in November, allowing it to exit Chapter 11 protections after nearly two years. Just days into the new year, Diamond announced that it was stepping out under a new name: Main Street Sports Group, which will continue to sell its FanDuel Sports Network-branded regional sports networks (RSNs) to distributors.
Key Details:
- Main Street will continue to offer 16 RSNs in various markets around the U.S.
- Combined, FanDuel Sports Network channels offer 29 MLB, NBA, and NHL teams.
- The company has reduced its debt from around $9 billion to $200 million.
Despite the name change, Main Street Sports Group will highly resemble Diamond. It will continue to offer its lineup of 16 FanDuel Sports Network RSNs to distributors, and will also see the channels sold to streaming customers via Prime Video thanks to a deal between the two.
The FanDuel Sports Network streaming service will also be sold directly to consumers by Main Street. Altogether, the company owns local rights to 13 NBA teams, eight NHL teams, and eight MLB teams. It’s a formidable programming lineup, and the channels are available to stream now on DIRECTV STREAM and Fubo plans.
“Emerging from this process is the culmination of over 20 months of incredibly hard work to transform our business and position us to better serve passionate local fans across our markets,” Main Street CEO David Preschlack said. “I am deeply grateful to everyone who made this restructuring possible – our new owners, partners, advisors, and especially our dedicated employees. With a stronger balance sheet, key partnerships, supportive new owners, we are modernizing our business to thrive in a changing media landscape.”
The stronger balance sheet referenced by Preschlack has reduced Main Street’s debts considerably. Before entering bankruptcy, the company had around $9 billion in debt hanging around its neck but has winnowed that amount down to around $200 million.
Check out the teams Main Street owns the rights to below. You can find these teams in their respective markets on FanDuel Sports Network linear channels, or on the FanDuel Sports Network streaming service if you live in the team’s broadcast footprint.
NBA teams on FanDuel Sports Networks:
NHL teams on FanDuel Sports Networks:
MLB teams on FanDuel Sports Networks:
FanDuel Sports Network
FanDuel Sports Network is a direct-to-consumer streaming service that offers live games for those who want access to your local FanDuel Sports Network RSN without subscribing to a cable or satellite package.