The bankruptcy saga of Diamond Sports Group, the largest operator of regional sports networks in the U.S., is nearing its conclusion as a federal judge has approved its reorganization plan. This comes 20 months after the company filed for Chapter 11, and it anticipates completing the restructuring soon.

Diamond will continue to broadcast games for six Major League Baseball teams, including the Atlanta Braves and Los Angeles Angels, under new agreements that allow direct-to-consumer streaming. Meanwhile, several teams, including the San Diego Padres and Arizona Diamondbacks, have parted ways with Diamond due to missed payments.

In addition to MLB, Diamond holds deals with 13 NBA and eight NHL teams, though some teams like the Dallas Mavericks and Anaheim Ducks have also left. The ruling has implications for MLB's broader strategy, as the league aims to package teams under MLB.TV without blackouts, potentially reshaping the media landscape for sports fans.