When Diamond entered bankruptcy, it had the rights to 42 professional teams (14 baseball, 16 NBA, and 12 NHL). The reorganized company has 27 franchises (six baseball, 13 NBA, and eight NHL).

A judge approved the company’s plan, which includes a streaming deal that will allow fans in certain markets to circumvent a cable package.

Diamond Sports Group, the largest regional-sports-network operator in the United States, received approval to emerge from bankruptcy Thursday on the 20-month anniversary of it filing for Chapter 11. Judge Christopher Lopez,