![]() ![]() Cable households have been exponentially shrinking in the last 15 years, from 88% penetration in 2010 to 66% this year, according to Statista. Why are they suffering on the balance sheet?Ĭord-cutting, for one. But it’s unclear how long Diamond Sports can meet those obligations. The Reds, Texas Rangers, Minnesota Twins and Cleveland Guardians are among the nine teams that missed a rights payment this year Diamond Sports struck an agreement to pay off some of those clubs in exchange for the direct-to-consumer streaming rights. Yet with the season in full swing and more than a dozen clubs due millions of dollars in rights fees, it feels like a house of cards. Diamond Sports narrowly met the grace period to deliver a rights payment to the Cincinnati Reds this month, keeping the club’s games on Bally Sports Ohio. Will other MLB franchises meet the Padres’ fate? Yet the $8 billion debt load Sinclair and Diamond took on in the transaction sunk the company it filed for Chapter 11 bankruptcy protection in March, announcing a restructuring support agreement with its debtholders.īut that put the dozens of sports franchises to which it holds billions of dollars in TV rights toward the back of the line. The Bally Sports brand was developed for the collection of 42 major sports franchises – 14 MLB, 16 NBA, 12 NHL – and much of the talent and production was retained, creating a relatively seamless transition from the Fox Sports era. sold all those holdings to Sinclair for more than $10 billion in August 2019, part of a mega-media transaction that required Disney to divest the 21 regional networks as part of its acquisition of Twenty-First Century Fox. How did it come to this?įox Sports was the predominant regional sports network brand – think Fox Sports North, Fox Sports West, Sun Sports, etc. Play-by-play man Don Orsillo, analyst Mark Grant and reporter Bob Scanlan will remain in their roles. Sure, Padres TV is essentially under state control, but that doesn’t mean commissioner Rob Manfred will be on the mic. ![]() Cox Cable has approximately 6 million customers and Spectrum around 2.5 million customers in the market. The league says it will expand the Padres’ reach from 1.13 million homes to 3.26 million homes in the team’s viewing area. ![]() MLB and the team announced Padres games will be available on DirecTV, Spectrum, Cox Cable and Fubo, and for the first time available for in-market streaming on MLB.TV. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |