Diamond Sports Group, the largest owner of regional sports networks, can emerge out of bankruptcy after having its reorganization plan approved. Judge Christopher Lopez gave the go ahead during a hearing in U.S. Bankruptcy Court in Houston. Diamond will emerge out of bankruptcy with significantly less debt, but also less teams and networks. When Diamond entered bankruptcy, it owned 19 networks under the Bally Sports banner and had the rights to 42 professional teams (14 baseball, 16 NBA and 12 NHL). The reorganized company now operates under the FanDuel Sports Network banner. It has 16 networks and carries games for 27 franchises (six baseball, 13 NBA and eight NHL).