A federal judge in U.S. Bankruptcy Court has approved a reorganization plan for Diamond Sports Group, the owner of the recently rebranded national FanDuel Sport

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

Regional sports broadcaster Diamond Sports Group received court approval on Thursday for a bankruptcy restructuring that will rebrand its TV channels, trim nearly $9 billion in debt, and renegotiate broadcast contracts with six Major League Baseball teams.

Diamond Sports Group won court approval of a restructuring plan that hands control of the bankrupt sports broadcaster to lenders and blesses a multi-year agreement to stream games on Amazon.com Inc.’s Prime Video channels.

Diamond Sports Group has officially emerged from bankruptcy, overcoming a 20-month odyssey that was referred to in the courtroom Thursday as a "twisted journey" and a "miracle." Judge Christopher Lopez issued the decision after a hearing that included only one objection from U.

Diamond Sports Group, the largest regional sports network operator in the United States, received approval to emerge from bankruptcy Thursday, the 20-month anniversary of it filing for Chapter 11.

Diamond Sports will be able to reduce its debt load to $200 million. Certain creditors will hold equity in the company post-bankruptcy. This article, Diamond Sports wins bankruptcy court approval for reorganization plan,

The regional sports network broadcaster’s plan for emerging from Chapter 11 has been approved after nearly two years of proceedings. At long last, Diamond Sports Group is ready to leave the shelter of Chapter 11 protections.