Diamond Sports Group has reached an agreement in principal on a multiyear carriage renewal with DirecTV, reducing the number of big hurdles still in front of the bankrupt operator of the Bally Sports regional sports network to just one — a renewal of its carriage deal with Comcast, which expires Tuesday.
The tentative agreement with DirecTV was confirmed to Next TV by an individual with inside knowledge of the negotiations, after the news was tweeted out Monday by Puck’s John Ourand.
Also Read: Everything You Need To Know About the Bally Sports Bankruptcy
Diamond, a subsidiary set up by Sinclair Broadcast Group to manage the Bally Sports channels after the broadcaster purchased them for $10.6 billion in 2019, has been playing a high-stakes game of Whac-A-Mole since March of last year, when it sought bankruptcy protection in a Houston federal court.
As it has worked to renegotiate money-losing local TV contracts with NBA, NHL and Major League Baseball team partners, the specter of expiring contracts with the largest pay TV operators, Charter Communications, Comcast and DirecTV, has been a major hindrance for Diamond.
But the subsidiary has slowly worked to solve the problem.
Last fall, Diamond was able to reach short-term extensions with DirecTV and Comcast. And earlier this month, the subsidiary announced a long-term agreement with Charter.
A Comcast renewal is likely challenging, given the cable company’s inclination in other recent deals to push RSNs into more expensive tiers.
Also read: Comcast’s MASN Renewal Kicks Orioles and Nationals RSN to More Expensive Ultimate Tier
“Can [Diamond] secure the long path to tiering on the option that’s not basic?” texted one sports media executive to Next TV Monday morning. “Given what I’ve heard, that’s a tough one. Not sure where they’re at, but I expect they will get a deal done.”
An agreement with Comcast would seem to clear the way for Diamond to finally emerge from bankruptcy on June 18, when a confirmation hearing on its reorganization plan is set.
