Diamond Sports Group, the largest regional-sports-network operator in the United States, received approval to emerge from bankruptcy Thursday on the 20-month anniversary of it filing for Chapter 11. Judge Christopher Lopez,

Diamond Sports Group, the largest owner of regional sports networks, can emerge out of bankruptcy after having its reorganization plan approved.

A judge approved the company’s plan, which includes a streaming deal that will allow fans in certain markets to circumvent a cable package.

Diamond Sports, the owner of regional sports networks, moved closer to exiting bankruptcy on Thursday after a bankruptcy judge said he would sign off on its reorganization plan. The company sought bankruptcy protection in March 2023 as it was toppled by a heavy debt load and the proliferation of consumers leaving the pay TV bundle.

A federal judge in U.S. Bankruptcy Court has approved a reorganization plan for Diamond Sports Group, the owner of the recently rebranded national FanDuel Sport

Diamond Sports Group filed for bankruptcy in 2023. Here's what's happened since then. Video edited by Jenna Jones.

Diamond Sports Group's restructuring plan was approved Thursday by a Texas judge, clearing the way for the company to exit bankruptcy after a 20-month process. Why it matters: Diamond's ability to get out of bankruptcy gives the beleaguered regional sports network business a lifeline.