Diamond Sports activities Group LLC., the proprietor of 19 Bally Sports activities regional sports activities networks, will declare chapter subsequent week.
The corporate has $140 million in curiosity funds due subsequent week. As an alternative of paying the quantity, the group will as an alternative file for Chapter 11.
The group has native broadcasting rights to over 40 groups within the NBA, NHL, and MLB. Diamond has $1.8 billion in rights charges due this yr to the three sports activities leagues.
Diamond renewed its streaming contract for 16 NBA groups final yr, together with the Hawks, Warmth, Mavs, Clippers, Bucks, and Suns.
