After 10 months in bankruptcy, Sinclair regional sports networks subsidiary Diamond Sports Group finally announced a restructuring plan Wednesday, with a major assist from Amazon, that it says will keep it in business beyond this season.
Diamond's restructuring support agreement (RSA), which now awaits court approval, includes a $115 million minority investment from Amazon, per a term sheet seen by our sibling pub Broadcasting & Cable. Amazon will now see the direct-to-consumer efforts for Bally Sports regional sports network channels funneled through Amazon Prime Video. Diamond also secured a $495 million settlement with its estranged parent company, Sinclair.
