On Wednesday, Diamond Sports had its day in court—the latest scheduled hearing in the long, belabored bankruptcy process that is equal parts somnolent and titillating, at least for denizens of the sports media trade. When the company filed for bankruptcy, in March 2023, it seemed like our pal David Preschlack, Diamond’s C.E.O., had a long and uncertain road ahead. In order to convince creditors about Diamond’s financial viability, after all, Preschlack had to convince distributors to negotiate new deals to carry its Bally Sports Networks. And he needed to placate the MLB, NBA, and NHL, too.
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