The parent company was charged with improperly accessing Diamonds funds.
Proceeds from the Sinclair settlement will be used to support the reorganization plan and fund distributions to certain creditors.
As cord-cutting upends the entire TV ecosystem, regional sports networks are making radical adjustments.
A Bally Sports Network microphone. The Bally-branded regional networks owned by Diamond SportsTodd Kirkland/Getty Images
With rights fees continuing to escalate, cord-cutting has put stress on the finances.
Amazon has already been in the RSN business, as a stakeholder in YES.
The Bally networks have rights to MLB, NBA, NHL and other significant sports.
He thanked Amazon and Diamond creditors, who clearly believe in the value-creating potential of this business.
