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MINNEAPOLIS — Bally Sports Regional Networks will return to the Comcast cable network beginning August 1, thanks to a new deal between Diamond Sports and Comcast.
Diamond Sports, the owner of the Bally Sports-branded regional sports networks, announced the deal Monday. The move will restore access to local MLB, NBA and NHL games for Comcast subscribers, who lost access to those channels on May 1, impacting fans of 11 MLB teams, including the Detroit Tigers and Minnesota Twins.
The deal is crucial for Diamond Sports, which filed for bankruptcy in March and is negotiating with pay-TV providers to secure distribution deals.
“Entering a new distribution agreement with Comcast is a critical step in our restructuring process, and we are thrilled that fans will once again be able to watch their local teams through Xfinity,” Diamond CEO David Preschlack said in a press release.
In addition to Comcast, Diamond also has deals with Charter Communications, DirecTV and others.
“With our distribution now stabilized, we are focused on finalizing agreements with the NHL and ongoing negotiations with the NBA. As new seasons approach, we aim to quickly submit a reorganization plan to the Court once these agreements are in place,” Preschlack added.
During recent court hearings, the leagues have expressed concerns about the future of Diamond Sports and its ability to develop a viable business plan for the upcoming NBA and NHL seasons.
Diamond had planned to file its plan of reorganization in the U.S. Bankruptcy Court for the Southern District of Texas on Monday, but postponed the hearing to finalize the deal with Comcast.
The company’s goal is to emerge from bankruptcy while retaining ownership of its creditors.
Diamond’s split with Comcast in May stemmed from a dispute over terms, specifically how quickly Comcast could convert its sports networks to a tiered model, forcing customers to choose packages that included sports channels at a higher rate.
The deal allows Comcast to offer the Diamond Sports networks on separate tiers from its broader cable package, according to people familiar with the deal who requested anonymity.
Pay TV providers like Comcast have been losing customers as many opt for cheaper streaming options. Last week, Comcast reported losing 419,000 national cable customers in the second quarter, bringing its total subscribers to about 13.2 million.
Once highly profitable regional sports networks have been hit particularly hard by declining cable subscriptions.
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