Movies

Warner Bros. Discovery says it will match a bid on NBA rights

BBG News

As a long-time sports enthusiast and movie critic who has grown up with the NBA and its iconic studio show “Inside the NBA,” I can’t help but feel a pang of sadness at the news that Turner, a company I’ve followed since the 1980s, may lose the media rights to the league. The thought of not having access to the games on Turner networks feels like a personal loss.

The battle for the media rights to the NBA is going into overtime.

Since the 1980s, Turner networks under Warner Brothers Discovery have held the rights to air these sports events. Now, they have presented an offer that equals the league’s terms for a new agreement starting from the 2025-26 season.)

The league’s connection with the bidder seemed precarious as Comcast Corporation, Amazon, and ESPN from Walt Disney Company submitted superior offers. With NBC being the chosen platform by Comcast, the games would be broadcasted there as well as on their streaming service, Peacock.

Turner Sports announced in a statement that the NBA has given its approval for Warner Bros. Discovery‘s rivals’ offers to be accepted. Turner stated that after examining the bids, they are prepared under the terms of their contract’s matching rights provision to match one of them, without specifying which one.

I submitted our matching paperwork for the NBA today. Excitedly, we’re now waiting for the league to process and execute our freshly agreed-upon contract.

Previously, it was mentioned that Amazon offered $1.8 billion per season as part of their bids, which Warner Bros. Discovery is striving to equal. Nevertheless, much like other sports leagues, the NBA aims to broadcast its games on a popular streaming service where a larger youth demographic is expected to tune in. That was the intent behind creating this Amazon package.

I’ve noticed Turner receiving heartfelt expressions of disappointment from basketball fans who have been following the NBA and its renowned studio show, “Inside the NBA,” since their childhood. However, Warner Bros. Discovery finds itself burdened with debt, which might explain their reluctance to meet the league’s renewal terms during their exclusive bargaining window.

The new NBA agreement lasts for eleven years and is valued at a total of $76 billion. Annually, ESPN pays the league $2.7 billion for broadcasting rights to the NBA Finals on ABC. Comcast contributes $2.5 billion, while Amazon provides $1.8 billion each year.

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2024-07-23 00:01

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