The NBA media-rights negotiations are heating up, with multiple companies vying for the coveted packages. According to reports, NBC is preparing a $2.5 billion annual package to air NBA games and replace Warner Bros. Discovery Inc. as one of the league's broadcast partners.
Warner Bros. Discovery Inc.'s shares fell to an all-time low following the report, losing as much as 10% on Tuesday.
NBC had previously held the NBA rights from 1990 to 2002 and is known for its iconic 'Roundball Rock' song from that era. Should NBC succeed in securing the deal, it could bring into question the future of Turner Sports' Inside the NBA talk show, featuring Shaquille O'Neal, Kenny Smith, Charles Barkley, and Ernie Johnson.
Amazon is also reportedly in talks for a streaming rights package through its Prime Video service. Disney/ESPN has agreed to increase its payment from $1.5 billion to $2.6 billion annually to renew its deal.
The NBA prefers to have three companies involved in its new deals but has not ruled out adding a fourth.
NBC's package is expected to include regular-season and playoff games, with the ability to watch them on Peacock. The negotiations are ongoing, and all sides are under the expectation that they will reach an agreement soon.
Warner Bros. Discovery has the right to match NBC's offer for the NBA package.