The bankruptcy of Diamond Sports Group, the country’s largest operator of regional sports networks, has seemingly come to an end. A federal judge formally approved Diamond’s reorganization plan on Thursday, 20 months after the company filed for Chapter 11. Diamond subsequently announced that it “expects to complete the restructuring process in the coming weeks” and thus reemerge as a new business.
Despite some cuts over the past couple years, Diamond retains a combined 27 MLB, NBA and NHL teams in its portfolio. Its saga — full of twists and turns that at various points made it seem as if the company was headed for liquidation — is indicative of a volatile media landscape shaped by massive…
