Bankruptcy Judge Voids Phoenix Suns' Media Deal with Gray TV.
A federal bankruptcy judge has voided the Phoenix Suns' media deal with Gray TV, ruling it violated the rights of the incumbent regional sports channel under the bankruptcy code. Diamond Sports, parent of Bally Sports Southwest, is in Chapter 11 bankruptcy proceedings. The Suns and Diamond must negotiate over whether the bankrupt regional sports company has the right to match a replacement deal, and Judge Lopez ordered that process to occur quickly given the Suns have argued that uncertainty over where their games are carried could impair their financial prospects next season.