The National Basketball Association Sunday reached a long-term deal that more than doubles fees from Walt Disney Co.'s ESPN and Time Warner's Turner Broadcasting, the Wall Street Journal reported quoting sources close to the talks. The deal also involves plans for an online video service that would show live, regular season games to people without cable or satellite TV service, the report said.
The deal gives Disney and Turner the rights to NBA games through the 2024-25 season on Turner's TNT, ESPN and ABC. The NBA had been collecting some $485 million annually from Disney and $445 million from Turner under existing contracts, which expire with the 2015-16 season. Variety reported the new deal likely is worth more than $2 billion overall.
NBC Sports and Fox Sports had been hoping to snag their own deals if the ESPN-Turner negotiations failed. The NBA is expected to extend its current deals with Sports Business Journal and NBCSports.com, Variety said.
The deal was expected to be announced at a news conference Monday. It is the first negotiated by NBA Commissioner Adam Silver, Broadcasting & Cable reported.