Regional Sports Networks Going Bankrupt

[2muchcoffeeman]

I feel like it's not going to end well.

Major League Baseball and the Atlanta Braves formally filed an objection to Diamond Sports Group's reorganization plan Friday, citing, among other things, a lack of information to corroborate the viability of the company's projections.

In a motion filed in Houston bankruptcy court, MLB and the Braves wrote they possess "grave concerns that, if the plan is confirmed, there is a substantial likelihood that the debtors will find themselves once again in financial distress and/or bankruptcy court in the near future."

Later on Friday, the Cincinnati Reds officially split from Diamond, according to another court filing. ...

MLB and the Braves cited a lack of clarity on that deal among their concerns in Friday's objection, writing that Diamond's "refusal to produce information concerning the proposed commercial lynchpin of the go-forward business plan as to [direct-to-consumer] subscribers, a subscriber base that the debtors estimate in the financial projections to grow by hundreds of percentage points between now and the end of 2027, by itself justifies a finding that the debtors cannot meet their feasibility burden."

MLB and the Braves added that Diamond has "consistently failed to produce" information about its new distribution agreements to allow for cross-examination in the linear-cable space and that they should not be "compelled to partner with a business that does not have a realistic roadmap to future operations."​

MLB has 'grave concerns' for Diamond reorg plan

 

[Liut]

Cardinals found their "way" and reached a deal with Fan Duel Sports Network.
Maybe they will be able to pay some of the players now.

 

[HanSenSE]

Meanwhile at Comcrap.

 

[HanSenSE]

And Comcrap isn't effing around. Already a block on CSN Bay Area for T'wolves-Warriors, and we're getting a UFC preview on the WWL, which is also carrying the game.

 

[wicked]

They're doing the same thing with the Boston RSNs and blaming it on NESN, without mentioning that they own the other RSN.

 

[LanceyHoward]

The cable television industry reminds me of newspaper chains and their business strategies. Cable television companies and publishers were essentially local monopolies. Companies could raise their rates every year and make a hell of a lot of money.

Then the internet came along and ended the monopolies. Subscribers started to leave. The response of management was to to send letters to subscribers saying that customers would no longer receive such a great deal for the product and would have to pay more for less because of the revenue losses to the company. These letters made it sound like ownership had been like Mother Therese and been providing gifts in the form of things like a second beat writer on the local NFL team as gift to subscribers but no longer could.

As prices increased and subscribers continued to leave the companies continued with the same strategy every year the next year until the product eventually shuts down.

 

[Roscablo]

Here's a funny one. I have mentioned on this thread before that I still get a local TV package in large part because our provider has Altitude, which shows Nuggets and Avalanche games. It costs freaking $15 a month in a regional sports fee. It's the only regional sports channel we get, we used to have one that showed the Rockies too but as per this thread it went belly up, so $15 a month just for that channel. When we got the Rockies too it was also $15 a month, so nice of them to adjust. I've asked about it with no response.

Anyway, Altitude hasn't been on Comcast in Denver since 2019. So this year they did a work around sort of and started putting games on local Denver TV and they have an app, that I am not sure its overall functionality. When the games are on the local channel they blackout Altitude. I don't understand this since it is the same provider and service, but whatever. But more than once when that has been the case, including the Nuggets last night, where that game was blacked out on Altitude but the game was nowhere to be found on the local channel. I don't know if it is my provider or what.

Still, I pay a lot for one channel that honestly doesn't provide much content other than the actual games, and they do some local college games too, but if I actually have the channel and pay for it, why is it blacked out when I can't get the game somewhere else?

 

[Readallover]

CNBC Sport: If the RSN model crumbles, the NBA will be fine — MLB may not

 

[Deskgrunt50]

CNBC Sport: If the RSN model crumbles, the NBA will be fine — MLB may not

MLB teams will definitely have to make an adjustment. But this is also just another way billionaire owners will cry poor. It's a joke.

The CBA negotiations in 2027 are going to be the bloodiest yet.

 

[Readallover]

MLB, ESPN opt out of TV deal for 2026-28; MLB cites 'minimal coverage'

 

[Twirling Time]

MLB, ESPN opt out of TV deal for 2026-28; MLB cites 'minimal coverage'

Wonder if the Red Sox and Yankees thought the coverage was minimal.