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

A U.S. court approved Diamond Sports Group's reorganization plan. What does this mean for Predators fans watching on FanDuel Sports Network?

Regional sports broadcaster Diamond Sports Group received court approval on Thursday for a bankruptcy restructuring that will rebrand its TV channels, trim nearly $9 billion in debt, and renegotiate broadcast contracts with six Major League Baseball teams.

Diamond Sports Group, the largest regional-sports-network operator in the United States, emerged from bankruptcy Thursday, on the 20-month anniversary of it filing for Chapter 11.

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

The broadcaster will now be able to emerge from bankruptcy with a reduced portfolio of 13 NBA teams, eight NHL teams and six MLB teams.

Diamond Sports Group has officially emerged from bankruptcy, overcoming a 20-month odyssey that was referred to in the courtroom Thursday as a "twisted journey" and a "miracle." Judge Christopher Lopez issued the decision after a hearing that included only one objection from U.

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.

Twenty months after Diamond Sports Group filed for Chapter 11 bankruptcy protection, the owner and operator of the 16 FanDuel Sports Network RSNs on Thursday was granted a new lease on life in a Houston court room.