Diamond Sports Group, the largest owner of regional sports networks, can emerge out of bankruptcy after having its reorganization plan approved

When Diamond entered bankruptcy, it had the rights to 42 professional teams (14 baseball, 16 NBA, and 12 NHL). The reorganized company has 27 franchises (six baseball, 13 NBA, and eight NHL).

A judge approved the company’s plan, which includes a streaming deal that will allow fans in certain markets to circumvent a cable package.