Bally Sports, a major NHL broadcaster, is in hot water. The parent company, Diamond Sports Group (DSG), declared bankruptcy in March after failing to pay a whopping $9 billion debt.
"In an ongoing legal battle with Diamond Sports Group, the parent company of Bally Sports, the NHL is reportedly seeking emergency relief funds if negotiations are not settled quickly.
Currently, 12 organizations have their media rights held by Bally Sports. With a Texas judge extending DSG's reorganization deadline to September 30th, the NHL is seeking a contract termination well before that date. On March 14, 2023, DSG filed for Chapter 11 bankruptcy, taking responsibility for a reported $9B in debt, with the inability to pay."
Bally Sports broadcasts the Arizona Coyotes, Detroit Red Wings, Florida Panthers, St. Louis Blues, Minnesota Wild, Columbus Blue Jackets, Anaheim Ducks, Carolina Hurricanes, Nashville Predators, Dallas Stars, Tampa Bay Lightning, and the Los Angeles Kings.
