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.

Diamond Sports, the owner of regional sports networks, moved closer to exiting bankruptcy on Thursday after a bankruptcy judge said he would sign off on its reorganization plan. The company sought bankruptcy protection in March 2023 as it was toppled by a heavy debt load and the proliferation of consumers leaving the pay TV bundle.