Diamond Sports Group will emerge out of bankruptcy with significantly less debt, but also fewer teams and networks.

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Diamond Sports Group, which does business as FanDuel Sports Network, received court approval of its reorganization plan and expects to emerge from bankruptcy in the coming weeks.

Regional sports broadcaster Diamond Sports Group received court approval on Thursday for a bankruptcy restructuring that will rebrand its TV channels, trim nearly $9 billion in debt, and renegotiate ...

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Diamond Sports will be able to reduce its debt load to $200 million. Certain creditors will hold equity in the company ...