RSN's Chapter 11 Seemingly Not Going Well, Alleges DirecTV
DirecTV is raising red flags about the state of Diamond Sports Group's Chapter 11 bankruptcy reorganization. In a statement filed Friday with U.S. Bankruptcy Court for the Southern District of Texas (docket 23-90116), DirecTV said Diamond since filing for…
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bankruptcy protection in March (see 2303170048) has done "little to provide certainty to the teams, leagues, distributors and customers that depend on [the regional sports network] to provide sports fans across the country access to regional sports content." The direct broadcast satellite operator said while Diamond's reorganization plan depends in large part on it extending and expanding carriage with MVPDs, Diamond has "hardly engaged with DIRECTV in meaningful negotiations regarding an extension of the parties’ distribution agreements (which expire in less than 12 months with no option for a future extension)." DirecTV said while it doesn't object to extending Diamond's exclusive period, the court should "consider these ... concerns in determining whether an extension is warranted." Diamond told the court last month that it needed to extend by 60 days the period within which it has the exclusive rights to file a Chapter 11 reorganization plan because "navigating these choppy waters requires discussions with, and cooperation from, many parties, including multiple creditor groups, sports leagues, teams, and MVPDs." Diamond is seeking an extension of the exclusivity period to Jan. 29.