Cincinnati Reds End Deal with Diamond Sports Group

The Cincinnati Reds have officially ended their joint venture with Diamond Sports Group, allowing them to seek a new television broadcasting partner for their games starting in 2025. This decision comes as the Reds sold their 20% stake in the now FanDuel Sports Network Ohio for just $1 amidst Diamond's ongoing Chapter 11 bankruptcy proceedings, where they carry a staggering debt of $8.67 billion. Major League Baseball (MLB) is expected to take over production and distribution of Reds games, as they are already managing broadcasts for several other teams. The Reds' departure raises significant concerns about the future broadcasting landscape for MLB teams, with others like the Texas Rangers also reconsidering their contracts with Diamond. The Reds' exit is part of a broader criticism of Diamond's financial stability, with MLB expressing doubts about the company's reorganization plan. A court hearing regarding Diamond's restructuring is scheduled, which could further influence the broadcasting dynamics for multiple teams.