Amazon Invests in Diamond Sports Group; Prime Video to Become Home of Bally Sports+ | The Streamable
Diamond Sports Group (DSG), the company behind Bally Sports regional sports networks and Bally Sports+ streaming service, has been in a tough spot due to bankruptcy proceedings and losing team broadcast rights. However, a recent development could change the game. Amazon has become a minority investor, injecting hope into DSG’s future. In exchange, Amazon’s Prime Video will become the primary home for Bally Sports+.
This investment is a lifeline for DSG, which has agreed to a $495 million settlement from its parent company, Sinclair Broadcasting Group (SBG). SBG was accused of diverting $1.5 billion away from DSG, contributing to its financial woes. DSG plans to raise an additional $450 million to secure its financial footing further and has received approval for ongoing financing post-bankruptcy.
This news means that Prime Video will become a major player in sports streaming, offering MLB, NBA, and NHL games and pre and post-game coverage. However, it’s still unclear if the direct-to-consumer service will remain at its current price of $19.99 per month. As for traditional cable and satellite viewers, there won’t be any immediate changes………
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Rising Dough
How do you think Amazon’s investment in DSG and its move into the sports streaming market will impact the landscape of sports media, and what might this mean for consumers and traditional broadcasters in the long run?
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Amazon entering sports streaming could bring more choices for viewers but may challenge other broadcasters