The entrance toAmazon in the capital as a minority shareholder is part of the restructuring of Diamond Sportsunder safeguard procedure since last March, the same source indicates.
>> Read also: Amazon founder Jeff Bezos will donate most of his fortune
The group had to file for bankruptcy, affected by a colossal debt contracted by the television operator Sinclair during the purchase of Diamond Sports from Disneyin 2019.
The juggernaut of e-commerce will acquire $115 million worth of bonds convertible into shares. If he converts all of these securities, he will hold a 15% stake, report the media.
The agreement also provides thatAmazon Prime Video offers the channels of the Diamond Sports group on its streaming platform.
Diamond Sports holds the regional broadcast rights to more than half of the American teams playing in the NBA (basketball), MLB (baseball) and NHL (ice hockey).
2024-01-18 08:56:34
#Amazon #plans #invest #million #television #network
