The owner behind the Bally Sports regional networks reached a deal to see its channels return to Comcast cable TV customers.
Diamond Sports reached a deal to see its regional sports networks return to Comcast's cable TV customers on August 1.The deal paves the way for Diamond Sports to present a reorganization plan and potentially exit bankruptcy protection.Diamond Sports — the owner of Bally Sports-branded regional sports networks — reached a deal with Comcast on Monday that will see its networks go live for cable customers on August 1.for Comcast cable customers on May 1 at the start of MLB's regular season.
The company has said it intends to emerge from bankruptcy protection under the ownership of its creditors. The negotiations between Diamond and Comcast broke down in May following a dispute over terms — namely how quickly the cable provider could shift the sports networks into a tiered model, meaning customers would have to opt into the packages that include the channels at a higher rate rather than having them included in broader cable packages.
The deal reached on Monday allows for Comcast to offer Diamond Sports networks on such tiers outside of the broader cable package, according to people familiar with the matter, who asked to remain anonymous to discuss specifics of the deal. Pay TV companies like Comcast have been bleeding customers in recent years as customers opt for cheaper streaming options. Comcast said last week it lost 419,000 domestic cable customers during theOnce a lucrative business, regional sports networks have been particularly squeezed by customers leaving the cable bundle.
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