Public statement from Warner Bros. Discovery

NBA Finalizes $2.6B Media Rights Deal With NBC, Ending 40-Year TNT Partnership; WBD Considers Matching

May 23, 2024, 04:19 PM

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.