As industry historians know, Main Street Sports’s depressing and seemingly endless saga began a mere seven years ago—a byproduct of Disney’s acquisition of Rupert Murdoch’s entertainment assets. In short order, on account of regulatory requirements, Fox sold its regional sports assets to Disney, which then traded them off to Sinclair, which promptly renamed them Diamond Sports—an overlevered entity in a post-R.S.N. world that filed for bankruptcy in 2023 and then changed its name to Main Street in early 2025. But even with its debt reduced from nearly $9 billion pre-bankruptcy to a couple hundred million, Main Street has still had a difficult time servicing its broadcast rights fees for the 29 MLB, NHL, and NBA teams in its portfolio.