Diamond Sports Group, the subsidiary of Sinclair Broadcast Group that operates the troubled Bally Sports regional sports networks, said it named David DeVoe Jr. as chief operating officer, effective immediately.
The company also named Eric Ratchman president of distribution and business development, a new post.
Diamond Sports, which operates independently from Sinclair last week missed an interest payment on its debt and is now in a grace period. During that grace period it is in discussions with creditors and other stakeholders about potential strategic alternatives and deleveraging transactions.
Diamond Sports says the company expects that its business will continue as usual, and it will keep broadcasting quality live sports productions for fans while it addresses its balance sheet. But Major League Baseball and the National Basketball Association have said they're standing by to broadcast games themselves should Diamond default on payments to their teams.
“On behalf of the Board of Managers, I am delighted to welcome David and Eric to the Diamond management team, and I look forward to working closely with them as they lead these key functions,” said Diamond Sports CEO David Preschlack. “David’s proven track record of leading strategy, operations and finance functions in the media industry will be an enormous asset to DSG as we work to substantially improve our balance sheet and position the Company to drive long-term, sustainable value. Further, having worked together at ESPN, I am confident that Eric’s strong business acumen and experience with both traditional media and DTC streaming will help shepherd DSG in its next phase of growth.”
DeVoe previously had been an executive VP at 21st Century Fox and chief financial officer for Fox Entertainment Group. He has been advising Diamond Sports since September. He succeeds Scott Shapiro, who was named executive VP of corporate development and strategy at Sinclair in December.
Ratchman was global head of business at Amazon’s IMDb TV (now Freevee) and director of Prime Video Direct. He also held posts at Univision Communications and The Walt Disney Co.
Both executives report to Preschlack.
“As DSG’s chief operating officer and chief financial officer at this important time for the company, my near-term priorities are to establish firm financial footing, seek strategic alternatives, and provide operational discipline that will enable DSG to evolve the business while continuing to provide excellent live sports productions for fans,“ DeVoe said. “I am energized working with David and the DSG team and by the opportunities ahead for DSG.” ■
