NEW YORK (TheStreet) -- Walt Disney (DIS) and Time Warner’s (TWX) 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.
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.