Sports Broadcaster Diamond to Hold Vote on Reorganization (1)

Diamond Sports Group will hold a creditor vote on a bankruptcy-exit plan backed by Amazon.com Inc. while the broadcaster tries to negotiate new television deals with two major US sports leagues.

US Bankruptcy Judge Christopher Lopez, at a Wednesday court hearing, gave Diamond permission to solicit votes for the plan. It’s proposed that senior creditors would forgive billions of dollars of debt in exchange for ownership stakes in the company.

“We are focused on reaching long-term agreements with our partners to enable us to continue serving fans across the US,” Diamond said in an emailed statement to Bloomberg News.

Creditors ...