MLB, Braves object to Diamond Sports reorganization plan, question company's future viability [CNBC]
Liberty Media Corporation - Series A Liberty Braves (BATRA)
US:NASDAQ Investor Relations:
ir.libertymedia.com/stock-information
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Source: CNBC
The Braves and MLB said that they have "grave concerns" with Diamond's future viability as the plan currently stands. They said their concern stems from a lack of information about the restructuring proposal for the country's largest owner of regional sports networks. Major League Baseball and the Atlanta Braves have raised issues with the reorganization plan and future viability of Diamond Sports Group, the country's largest owner of regional sports networks, according to a Friday bankruptcy court filing. The Braves and MLB said in the objection that they have "grave concerns" with the current plan, as "there is a substantial likelihood that [Diamond Sports] will find themselves once again in financial distress and/or bankruptcy court in the near future." The filing noted that both MLB and the Braves have a vested interest in Diamond Sports succeeding with a reorganization plan, but they are not convinced that the one currently proposed is viable. A representative for Diam
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