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MLB’s $200 Media Crisis: How Main Street’s Meltdown Is Forcing A New Era
The story to lead with today is simple: a legacy media model is breaking, and it’s taking hundreds of millions in team revenue with it. Main Street Sports Group, the rebadged Diamond Sports, operator of FanDuel’s regional sports networks has gone from “rescued in bankruptcy” to “missing cheques” in barely a year, and the fallout is forcing MLB toward a centralised, streaming‑first future.
At its core, this is a cash‑flow story. After shedding roughly $9 billion of debt in Chapter 11 and emerging with about $200 million on the balance sheet, Main Street still lost around $200 million in 2025 as cord‑cutting continued to erode subscribers and advertising. Now the company has missed January rights payments to at least 13 NBA teams and defaulted to 9 MLB clubs, blowing a hole in budgets that assumed those cheques were as good as cash.
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One Habit You’ll Keep
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