Global streaming giant DAZN is in advanced talks to acquire a majority stake in Main Street Sports Group, the largest operator of regional sports networks (RSNs) in the U.S., as first reported by The Wall Street Journal. The move would give the international powerhouse a massive foothold in the complicated American local sports market.
A major league play: The acquisition would radically reshape DAZN's U.S. business, which has so far been limited to a niche audience for combat sports. A deal means DAZN's portfolio would instantly absorb the local broadcast rights for 29 teams across the NBA, NHL, and MLB.
Out of the ashes: Main Street Sports is the successor to Diamond Sports Group, which recently emerged from a messy Chapter 11 bankruptcy. The company has since stabilized its operations through a naming-rights deal with FanDuel and a key distribution partnership with Amazon for its streaming service.
Can a streaming-first company like DAZN succeed by acquiring the very linear cable infrastructure that cord-cutting is killing? Dismantling the expensive cable channels would slash costs but risks stranding the legions of fans who still watch their local teams on traditional TV.
