The Cliff Path of No Return

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Even if Diamond agrees to Comcast’s cliff path strategy, a deal does not appear imminent. Photo: Bruce Bennett/Getty Images
John Ourand
July 12, 2024

With its July 29 bankruptcy hearing rapidly approaching, Diamond Sports appears to be warming to Comcast’s demands that its regional sports networks immediately migrate to a digital tier—the dreaded cliff path that led to Diamond’s Bally Sports R.S.N.s going dark on Comcast’s Xfinity systems some two and a half months ago. The good news, however, is that Diamond C.E.O. David Preschlack and Comcast’s Greg Rigdon actually are talking, which could be a headline in itself considering that Bally Sports’ R.S.N.s have been off Comcast’s systems since the beginning of May. I’m told that the two have engaged in meaningful negotiations that suggests a deal could be completed by that bankruptcy hearing, which is when Diamond has to convince the court that it has a viable plan to resuscitate the business.