Some essential money changes will take place throughout February that could affect your personal finances.
17.01.2024 - 19:21 / deadline.com
Amazon is investing in Diamond Sports Group, which operates the Bally-branded regional sports networks, as part of a plan for the Sinclair subsidiary to emerge from Chapter 11 bankruptcy protection.
Along with Amazon’s investment in a minority stake in Diamond, the parties have also agreed that Prime Video will become the primary route for customers to buy Bally Sports streaming access to track their local teams. The added distribution muscle is a boost to Diamond, which launched Bally Sports+ as a $20-a-month offering in mid-2022. Takeup of the direct-to-consumer offering has been gradual and the costly process of marketing to and acquiring customers was severely hampered by Diamond filing for bankruptcy in March 2023. The announcement of the post-bankruptcy plan emphasized that Diamond will continue to pursue traditional carriage with pay-TV distributors, with those agreements still throwing off meaningful cash.
In addition to the Amazon investment, a group of creditors agreed to provide $450 million in financing, which Diamond will use to pay down debt and fund its operations as it executes the restructuring.
Sinclair stock, which has weighed down by the Diamond situation in recent years, shot up 13% on the news.
The Bally RSNs, which carry the games of more than 40 major sports teams across the U.S., were long operated by Fox Sports and bore the Fox brand. They were sold off by Disney as a condition of regulators approving its acquisition of most of 21st Century Fox in 2018. Sinclair led a consortium of investors that acquired the networks for $10.6 billion in 2019, later rebranding them in a deal with gaming firm Bally.
Another key element of the announced plan for emerging from bankruptcy is Sinclair paying $495
Some essential money changes will take place throughout February that could affect your personal finances.
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Michael Phelps is now a dad of four!
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Todd Spangler NY Digital Editor Diamond Sports Group has put together a plan to emerge from bankruptcy and remain a going concern, helped by a big new streaming deal with Amazon. Amazon has committed to making a minority investment in Diamond Sports Group, one of the largest operators of regional sports networks (RSNs) in the country, as part of Diamond’s bankruptcy reorganization plan, the RSN company announced Wednesday.
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Town hall bosses in Wigan have hailed the success of a ‘cultural manifesto’ which has seen £35million flood into the town since its launch five years ago. The manifesto, badged The Fire Within, kicked off in 2019 with the aim of attracting external investment into Wigan to strengthen and grow its cultural organisations.
As 2024 gets underway many households and bill-payers will be looking at new ways to hold onto their cash, building up a saving pot for the never-ending price hikes (need we mention energy bills and phone plans) or something to dip into for a family holiday. As money challenges rise in popularity savers are raving about 'quality' £8 binder that helps 'manage money with cost of living rises'.
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