This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NBA Said to Seek Double its TV Rights Fees from Disney, Time Warner


WATCH: More market update videos on TheStreet TV | More videos from Brittany Umar

NEW YORK (TheStreet) -- Walt Disney  (DIS - Get Report) and Time Warner’s  (TWX - Get Report) Turner Broadcasting are in preliminary discussions about extending their contracts with the National Basketball Association, which is seeking to double its TV rights fees, according to the Wall Street Journal.

VIDEO TRANSCRIPT:

The National Basketball Association is said to be attempting to double the TV-rights fees it receives from Disney and Time Warner’s Turner Broadcasting.

That's according to a report by the Wall Street Journal, which says Disney currently pays the NBA about $485 million a year and Turner pays about $445 million annually. The companies are said to be in preliminary discussions about extending their contracts with the NBA that currently run through the 2015-2016 season.

Currently, the NBA Finals air solely on Disney's ABC network, but the NBA may look to split up the Finals coverage between the two companies as Turner has been pushing for some of it, according to sources cited by the Journal. If the NBA cannot reach deals with Disney and Time Warner, it could open the door to other bidders. However, NBA cannot discuss a deal with other companies at this point, under terms of its existing contracts.

NBA team owners are meeting on Tuesday to discuss the TV-rights deals, among other matters. In New York, I'm Brittany Umar reporting for TheStreet.

-- Written by Brittany Umar in New York.

undefined

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
DIS $111.03 0.46%
TWX $85.91 0.39%
AAPL $128.70 -0.19%
FB $78.81 -0.23%
GOOG $540.78 0.54%

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs