The NBA has reportedly finalized a blockbuster $2.6 billion media rights deal with NBC, ending a 40-year partnership with TNT. During the exclusive rights negotiations, TNT did not double their old offer and now faces the possibility of paying more or losing the NBA rights. Warner Bros. Discovery (WBD), the parent company of TNT, is considering matching an offer for a package of NBA games, but the company was $200 million apart from the NBA's asking price of $2.3 billion during negotiations. WBD's CEO, David Zaslav, has indicated a willingness to lose the NBA if the price is too high. As the NBA moves towards finalizing terms, it remains to be seen whether WBD will match the total value of NBC's bid or potentially consider matching Prime Video's bid instead. This potential shift marks the end of a 35-year relationship between the NBA and TNT.
A early newsletter… The NBA is finalizing media rights deals that don’t involve TNT. While TNT has the right to match, it won’t be easy. A look at how and why a 35-year relationship may be ending. https://t.co/quCaPqJdQw.
Warner Bros. Discovery is considering matching an offer for the media rights to a package of NBA games as the league looks to finalize terms, according to people familiar with the matter. https://t.co/ozevUu5tW6
per @Lucas_Shaw WBD couldn't get a handshake deal done (like ESPN did) during the exclusive negotiations window b/c it and the NBA were $200mm apart. NBA asked $2.3B, WBD topped out at 2.1B. Shaw isn't bullish on the idea that WBD can match either Comcast's or Amazon's offer.
New PRESS BOX pod: --@HowardBeck on TNT, NBC, and the NBA's lurch toward a new rights deal --@sheilkapadia on ESPN's No. 1 NBA team, Stephen A's debate TV doc, and covering football for Eagles fans https://t.co/doOWXX8LP1
Does TNT still have a path to NBA media rights? @CNBC's @sherman4949 reports WBD could match Prime Video's bid, not NBC's. https://t.co/DFBHc4gtyH
WBD's Zaslav "content to lose the NBA" if the price is too high, per CNBC: https://t.co/c6i3fSkT0q
NEW POD: Great talk with @JonesOnTheNBA on the end of Turner's NBA coverage, ESPN's NBA issues, and so much more about the modern media landscape https://t.co/6kAlD9PUsJ
NBA will soon take NBC's ratified written bid to WBD/TNT to see if they can match "total value." https://t.co/7BbflGlEYn
JUST IN: NBA Reportedly Finalizes Blockbuster $2.6B Media Rights Deal With NBC, Cuts Ties With 40-Year Rightsholder TNT https://t.co/upTOxT1jkz
TNT reportedly wouldn’t double their old offer in the exclusive rights negotiations and now will have to pay more or lose the NBA: https://t.co/akpWJ4LKwF