Diamond Sports Signs Streaming Pact With Amazon in Deal to Emerge From Bankruptcy

Regional sports programmer Diamond Sports Group said on Wednesday it has signed an agreement with a group of creditors to emerge out of bankruptcy and that it would also get funding from Amazon.com as part of a streaming deal.

Diamond Sports, a unit of Sinclair Broadcast, said the deal would provide it with $450 million in financing, some of which will be used to pay down debt and the rest to support its operations as it finalizes its reorganization plan.

Shares of Sinclair rose nearly 15% in afternoon trading.

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