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 will be able to reduce its debt load to $200 million. Certain creditors will hold equity in the company post-bankruptcy. This article, Diamond Sports wins bankruptcy court approval for reorganization plan,

Diamond Sports Group, the largest owner of regional sports networks, can emerge out of bankruptcy after having its reorganization plan approved