People liked saving a few bucks and having most of what cable offered, including regional sports networks. There was a time when live TV services (think YouTube TV, Hulu with Live TV) served an economical alternative to cable TV systems. There exists a fundamental reason why Bally Sports is in this mess – cord cutting, the movement that started as consumer empowerment, but it slowly but surely evolving into something else. That’s just the broadcast side of all of this. Cord cutting clogs Bally Sports revenue stream That’s an idea that’s been floated before. There exist any number of ways this could play out, including the teams being given their rights back or the leagues taking an ownership stake in any broadcast entity. If that happens it could cut off an important local revenue source of those teams. What could happen if Bally Sports goes bankrupt?ĭiamond is considering its options, the least favorable one being bankruptcy. Locally, that includes Bally Sports Great Lakes and Bally Sports Ohio, which hold sports rights for professional sports teams including the Reds, Guardians, Cavs and Blue Jackets. Diamond, however, currently owes $55 billion in sports rights across 19 properties for deals with NBA, MLB and NHL teams. Now, Diamond, according to a Bloomberg report, is looking to restructure its $8.6 billion debt in the hopes it can emerge as a stronger company.
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