- Amazon is in talks to invest in Diamond Sports.
- If the negotiations go well, Amazon’s prime video platform will become Diamond Sports Group’s media platform.
What does it mean that Amazon will invest in Diamond Sports?What does it mean that Amazon will invest in Diamond Sports? If Amazon makes these highly attractive sports related products a paid program, will this mean that Amazon will have a more stable revenue stream? Amazon has a good appetite, meanwhile, a controversial word is forming.
A partnership is about to be born
On Dec. 18, The Wall Street Journal reported that Amazon was in talks to invest in Sports programming company Diamond Sports, a move that would push the e-commerce giant into the sports world in a big way.
If a deal is reached, Amazon’s Prime Video platform will eventually become the streaming platform for Diamond’s games in Major League Baseball, the National Basketball Association and the National Hockey League.
Amazon’s investment project
Amazon has invested in several projects in different areas this year. In January, Amazon invested in environmentally sustainable areas to help restore nature and wildlife in France; In August, Amazon announced a $7.2 billion investment in Israel to launch its AWS Cloud region.
Also read: Amazon Invests $4 Billion in AI Startup Anthropic
The negotiations are ongoing, let’s wait and see
According to the report, Diamond owns about half of the teams in Major League Baseball and the National Basketball Association, as well as the National Hockey League League’s local rights to about a third of its teams, and the company will continue to operate its cable network through existing partnerships.
But it is unclear how much money Amazon plans to invest or what the valuation will be. What we do know is that Diamond has received the support of some creditors to continue negotiations.
Sinclair Broadcasting (SBGI. O), Diamond Sports’ parent company, declined to comment, and Amazon and Diamond Sports did not immediately respond to Reuters’ requests for comment.
Diamond Sports Group, which broadcasts more than 40 major sports teams in the United States and filed for bankruptcy earlier this year, “Diamond Sports, a Sinclair Broadcast Group subsidiary that operates the “Bally Sports” branded channels, listed assets and liabilities between $1 billion and $10 billion each in its Chapter 11 petition”，according to Reuters, is actively in talks with Amazon about a strategic investment and multi-year streaming partnership.
