NEW YORK ( TheStreet) -- National Basketball Association players and owners will meet Wednesday to continue talks on reaching a deal after talks on Tuesday stretched late into the night. The talks that began Tuesday went for 16 hours, breaking at 2 a.m. on Wednesday after discussions with a federal mediator failed to produce a deal. Commissioner David Stern had said if there wasn't a deal reached by Tuesday games could be cancelled through Christmas. The first two weeks of the NBA season already have been lost. But since things went well enough Tuesday, owners decided to alter their plans after previously saying they weren't available on Wednesday, according to The Associated Press. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.