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MLB's regional coverage has life again as the Diamond Sports bankruptcy issue might have been solved by Amazon. The company has officially invested in the broadcast company after MLB initially blocked its attempts to do so.
Diamond Sports announced that Amazon made a small investment in the company, which means the shopping and streaming titan will have the rights to stream MLB, NBA and NHL teams on Prime Video. Everything that was under Diamond Sports (or Bally Sports) will now be with Amazon.
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That means several teams, like the Tampa Bay Rays, Atlanta Braves and Texas Rangers, will have their television broadcasts impacted by this move.
Diamond Sports rescued by Amazon
Amazon has been trying to get involved with this streaming issue before. They first attempted to buy into Diamond Sports, but MLB blocked them from doing so. Obviously, they've been successful this time around.
Diamond Sports CEO David Preschlack said via Bleacher Report:
"We are thrilled to have reached a comprehensive restructuring agreement that provides a detailed framework for a reorganization plan and substantial new financing that will enable Diamond to operate and thrive beyond 2024."
The statement continued, going on about how grateful they are for the support:
"We are grateful for the support from Amazon and a group of our largest creditors who clearly believe in the value-creating potential of this business. Diamond's near-term focus will be on implementing the RSA and emerging from bankruptcy as a going concern for the benefit of our investors, our employees, our team, league and distribution partners, and the millions of fans who will continue to enjoy our broadcasts."
Amazon already has made headway in the sports world. They're the sole provider of Thursday Night Football with the NFL, and they have a deal with YES Network to stream New York Yankees games sometimes during the regular season.
This paves the way for them to become a major player in the sports world, as they'll have almost all major sports under their umbrella and can start streaming the games often.
