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Now creditors may be willing to take their chances in a potential bankruptcy court in the first half of next year, the NYP said, citing sources close to the talks. Creditors are likely to use the courts to reject Diamond's unprofitable contracts with sports teams.
That means Diamond’s slew of unprofitable broadcasting contracts will likely be rejected — and its decades-old, cable-TV-based business model will go out the window as deals are cut to stream lives games online, sources said. MLB could potentially step in as a temporary platform next year, but the streaming rights are expected to eventually end up with Big Tech companies like Apple, Amazon and Facebook, sources said.
