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Diamond Sports Group Appoints David Preschlack as Chief Executive Officer
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
Tags
management
Rhea-AI Summary
Diamond Sports Group has appointed David Preschlack as its new Chief Executive Officer. With over 25 years in sports marketing, his experience includes roles at NBC, Disney, and ESPN. Preschlack aims to leverage his industry knowledge to enhance relationships with sports leagues and tackle the company’s financial challenges. Notably, Diamond is focused on creating a unique regional sports offering while improving its balance sheet for sustainable long-term value. This shift follows a significant transition from Disney and Fox and aims to reinforce Diamond's independence under Preschlack's leadership.
Positive
David Preschlack brings over 25 years of relevant sports marketing experience to Diamond Sports Group.
He plans to strengthen relationships with league partners, enhancing business stability.
Preschlack's focus includes addressing legacy financial issues and improving the company's balance sheet.
Negative
The company faces legacy financial issues that need immediate attention.
Transitioning leadership may create initial continuity challenges.
BALTIMORE--(BUSINESS WIRE)--
Diamond Sports Group, LLC ("DSG," "Diamond," or the "Company"), an unconsolidated subsidiary of Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) ("Sinclair"), announced today that its Board of Managers has appointed David Preschlack as Diamond’s Chief Executive Officer. Mr. Preschlack has been a member of Diamond’s Board of Managers since May of 2022 and most recently served as President of NBC Sports Regional Networks & Executive Vice President of Content Strategy for the NBC Sports Group.
Mr. Preschlack has more than 25 years of sports marketing experience at NBC, Disney, and ESPN, and possesses deep knowledge of the challenges and opportunities facing the regional sports network landscape.
“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. “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.”
Mr. Preschlack said, “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. 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.”
“DSG has achieved significant milestones over the past three years, including an intricate transition from Disney and Fox, a complete rebrand of the networks and the launch of a ground-breaking direct-to-consumer sports platform,” said Chris Ripley, CEO of Sinclair, and member of DSG’s Board of Managers. “Consistent with the financing completed in March of this year and the company’s deconsolidation, DSG will establish its independence moving forward under David’s leadership. The management services provided by Sinclair to DSG are not impacted by this change. We look forward to our continued partnership with David and the rest of the Diamond team as the company pursues its transformation of the sports media business.”
About David Preschlack
As president of NBC Sports Regional Networks and NBC Sports Group Platform and & Executive Vice President of Content Strategy for the NBC Sports Group from 2020-2021, David Preschlack oversaw nine big-market regional networks and managed relationships with valued partners such as NBA, MLB, and NHL teams. Reporting to the chairman of NBC Sports, Preschlack also led NBC Sports' programming group, its audio business and efforts in the sports betting space.
Prior to joining NBC Sports, David Preschlack built a 20-year career with Disney and ESPN, where he most recently served as executive vice president of the conglomerate's affiliate sales and marketing group. In this capacity, he managed oversight of content distributed to multichannel video programming distributors.
Mr. Preschlack was named to the Sports Business Journal's Forty Under 40 list on three separate occasions and received the 2013 NCTA Vanguard Award. He continues to serve on the Board of Managers of Diamond Sports Group and is a member of the Worldwide Board of Trustees at United Way.
About Diamond Sports Group
Diamond Sports Group LLC, an unconsolidated subsidiary of Sinclair Broadcast Group, Inc., owns the Bally Sports Regional Sports Networks (RSNs), the nation’s leading provider of local sports. Its 19 owned-and-operated RSNs include Bally Sports Arizona, Bally Sports Detroit, Bally Sports Florida, Bally Sports Great Lakes, Bally Sports Indiana, Bally Sports Kansas City, Bally Sports Midwest, Bally Sports New Orleans, Bally Sports North, Bally Sports Ohio, Bally Sports Oklahoma, Bally Sports San Diego, Bally Sports SoCal, Bally Sports South, Bally Sports Southeast, Bally Sports Southwest, Bally Sports Sun, Bally Sports West, and Bally Sports Wisconsin. The Bally Sports RSNs serve as the TV home to more than half of all MLB, NHL and NBA teams based in the United States. Diamond Sports Group also has a joint venture in Marquee, the home of the Chicago Cubs, and a minority interest in the YES Network, the local destination for the New York Yankees and Brooklyn Nets. Diamond RSNs produce approximately 5,000 live local professional telecasts each year in addition to a wide variety of locally produced sports events and programs each year.
About Sinclair Broadcast Group, Inc.
Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) is a diversified media company and a leading provider of local news and sports. The Company owns, operates and/or provides services to 185 television stations in 86 markets; owns multiple national networks including Tennis Channel and Stadium; has TV stations affiliated with all the major broadcast networks and owns and/or operates 21 regional sports network brands. Sinclair’s content is delivered via multiple platforms, including over-the-air, multi-channel video program distributors, and digital and streaming platforms NewsON and STIRR.
