Diamond Sports Group has its first CEO. Sinclair, the parent company of Diamond, has named David Preschlack to the position. He comes to the company after stints with ESPN and NBC Sports.
“David is the ideal person to lead Diamond at this critical point in its development,” said Randy Freer, Chairman of DSG’s Board of Managers, in a press release. “David possesses a unique combination of deep sports broadcasting expertise, sound business judgment, and a track record of successfully managing relationships with major sports leagues and multichannel video programming distributors that will be invaluable as we work to realize the full potential of DSG’s Bally Sports Networks.”
Preschlack is no stranger to the Board of Managers. He has been a member since May.
He will be tasked with growing the company’s footprint and getting the Bally Sports properties back on track. The regional sports network business has had troubles in recent years as a number of TV providers drop them from channel lineups.
The Bally Sports Networks have lost 10% of subscribers in the last year. The company also posted a $1.1 billion loss in Q3 2022.
David Preschlack is optimistic about where the company can grow. He points not only to linear television but to the company’s Bally Sports+ streaming platform as valuable assets.
“Diamond is uniquely situated to create a differentiated and truly integrated regional sports offering that puts fans first by delivering live local sports in an immersive engagement environment, and I am honored to step into the role of CEO at this important moment,” he said. “My focus over the next few months will be on fostering and strengthening the relationships with our league partners and addressing the Company’s legacy financial issues, including strengthening our balance sheet, so that we can position Diamond to drive long-term, sustainable value for our stakeholders. I look forward to working closely with my talented and dedicated colleagues to make our vision for the future a reality.”
Sinclair said that it will continue to provide management services to Diamond and maintain a presence on its board.
