Ex-NBC Sports Exec David Preschlack, Who Also Had A 20-Year Run At Disney And ESPN, Is Named CEO Of Financially Challenged Bally Networks Owner Diamond Sports Group
05.12.2022 - 23:59
/ deadline.com
David Preschlack, a former NBC Sports executive who oversaw its regional sports networks and previously had a 20-year run at Disney and ESPN, has been named CEO of the financially challenged Diamond Sports Group.
A subsidiary of Sinclair Broadcast Group, which led the purchase of the formerly Fox-branded RSNs now operated under the Bally’s name, Diamond has faced a grueling couple of years amid cord-cutting and Covid. The sports outfit, which owns and operates 19 RSNs along with a joint venture with the Chicago Cubs in Marquee and a minority interest in the YES Network, recently took a non-cash impairment charge of $1 billion in the third quarter. In that same period, on September 26, it launched the Bally Sports+ subscription streaming offering nationwide, aiming for the $20-a-month service to help offset the secular decline of pay-TV subscribers.
Sinclair earlier this year retained financial advisors LionTree and Moelis & Co. to explore opportunities for Diamond, including potentially taking on investments from the sports leagues from which they have traditionally licensed rights. Those rights negotiations have become more fraught for both national and regional programmers as the costs continue to escalate, with viewership heading the opposite direction, apart from a number of baseball teams still managing healthy traditional tune-in.
Preschlack was most recently president of NBC Sports Regional Networks & Executive Vice President of Content Strategy for the NBC Sports Group. He also joined Diamond’s board of managers several months ago as the company was emerging from Covid, which caused disruptions to the company’s finances with game cancellations and postponements in 2020 and 2021.
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