Diamond Sports is seeking to get out of its broadcast agreement with the Arizona Diamondbacks.
Diamond Sports, which owns 19 regional sports networks under the Bally Sports banner, made the request in an emergency motion filed Thursday in federal bankruptcy court. Judge Christopher Lopez in Houston will consider it on June 29.
to pay the full value of its contracts to the Diamondbacks, Cleveland Guardians, Minnesota Twins and Texas Rangers. Those payments are due July 1. The Diamondbacks signed a 20-year, $1.5 billion contract with Fox Sports Networks in 2015. Diamond Sports Group and Sinclair Broadcast Group bought the regional sports networks from The Walt Disney Co. for nearly $10 billion in 2019. Disney was required by the Department of Justice to sell the networks for its acquisition of 21st Century Fox’s film and television assets to be approved.
The Diamondbacks are a part owner of Bally Sports Arizona. After years of struggling, the Diamondbacks are one of the surprise teams in baseball this season and are leading the NL West by 3 1/2 games.
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