The eighth of the game between the MLB Houston Astros and Minnesota Twins at Target Field in Minneapolis, Minnesota on April 9, 2023 During the inning, the Bally Sports monitor was shown.
David Burdine | Getty Images Sports | Getty Images
Bally Sports regional channels coming back Comcast Cable TV customers.
Diamond Sports, owner of the Bally Sports-branded regional sports network, reached an agreement with Comcast on Monday to launch its network to cable customers on Aug. 1.
The networks carry regular-season local games for MLB, NBA and NHL teams in various markets, but Comcast cable customers have been suspended since May 1, when the MLB regular season begins. Fans of 11 Major League Baseball teams, including the Detroit Tigers and Minnesota Twins, were affected.
The deal paves the way for Diamond Sports to survive after filing for bankruptcy last March. It has been working to secure contracts with various pay-TV providers, including Comcast.
“This new transportation agreement with Comcast, our third-largest distributor, is a critical step forward in our restructuring efforts, and we are pleased that fans will once again be able to watch their local teams on Xfinity,” said Diamond CEO David Preschlack. of broadcast.
Diamonds also has shipping agreements with the following companies Chartered Communicationslive TV and fubo.
“After confirming our allocation, our focus is on reaching a final agreement with the NHL and resolving our ongoing negotiations with the NBA. We realize that with the basketball and hockey seasons approaching, time is of the essence and once we reach an agreement with the NBA The teams and league partners have reached an agreement and we intend to move quickly to submit a reorganization plan to the court,” Preschlak said in the release.
The league recently expressed concerns about the future of Diamond Sports in court hearings, questioning the company’s ability to develop a viable business plan ahead of the upcoming NBA and NHL seasons this fall.
Diamond was scheduled to seek court approval of its reorganization plan in the U.S. Bankruptcy Court for the Southern District of Texas on Monday, but the hearing was postponed as it seeks to reach a deal with Comcast.
The company said it intends to emerge from bankruptcy under creditor ownership.
Negotiations between Diamond and Comcast broke down in May over a dispute over how quickly the cable provider could move sports networks to a tiered model, meaning customers would have to pay higher prices. Price options include packages that include the channels, rather than including them in a broader cable package.
The deal struck Monday allows Comcast to offer Diamond Sports Network at this level in addition to its broader cable package, according to people familiar with the matter who asked not to be identified discussing details of the deal.
Pay TV companies like Comcast have been losing customers in recent years as they opt for cheaper streaming options. Comcast said last week it lost 419,000 domestic cable customers in the second quarter and now has about 13.2 million subscribers.
Regional sports networks, once a lucrative business, have been particularly squeezed as customers abandon cable TV services.
Revealed: Comcast is the parent company of NBCUniversal and CNBC.
About The Author
