Amazon is in talks to invest in the biggest regional-sports programmer, a move that would advance the e-commerce giant’s aggressive push into sports content as it takes on streaming rivals like Disney and Netflix, the Wall Street Journal reported. Diamond Sports Group, which carries the games of more than 40 major sports teams across the country and filed for bankruptcy earlier this year, is actively negotiating with Amazon about a strategic investment and a multiyear streaming partnership. If an agreement is reached, Amazon’s Prime Video platform would eventually become the streaming home for Diamond’s games. Diamond, which has the local rights to about half the teams in Major League Baseball and the National Basketball Association and about a third of the National Hockey League teams, would continue operating its cable networks through its existing partnerships. It isn’t clear how much money Amazon is planning to invest or at what valuation. Diamond has received support from a select group of creditors for proceeding with the talks. Any transaction is subject to bankruptcy-court approval and could still fall through. Should the companies manage to strike a deal, it could help enable Diamond, which operates Bally Sports-branded networks, to stave off liquidation.
