NBC courting the NBA with a $2.5 billion media deal that could permanently bench TNT [Fortune]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Fortune
NBC is preparing a $2.5 billion bid, according to the Wall Street Journal . The network hasn't carried an NBA game since 2002 but now it's planning a comeback at a time when live sports rights are gaining renewed importance in the media industry. Sports rights are some of the last bastions of linear cable ratings, which have been in consistent decline for years as a result of cord cutting and streaming. For cable channels, live sports come with a readymade audience that will reliably tune in when they air. Streamers also covet live programming because the regular interruptions make it ripe for commercials, which means they can show ads to subscribers in ad-free tiers. All that has pushed media rights valuations to sky-high levels. Warner Bros. Discovery's current deal averages out to about $1.2 billion a year, much lower than the figure NBC is reportedly offering. NBC's bid would likely mean that Warner Bros' TNT would miss out on NBA games, according to the Wall Street Journal T
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- WBD's page on the SEC website