Warner Bros. Discovery Matches Amazon's $1.8 Billion NBA Package Bid

In a recent development, Warner Bros. Discovery (WBD) has exercised its contractual right to match one of the three bids for an NBA package. Although WBD did not explicitly state which bid they matched, Deadline reports that it is likely to be Amazon's offer worth $1.8 billion per year.

WBD released a statement expressing their intention to ensure that fans can continue to enjoy their exceptional coverage, including top-notch live game productions and iconic studio shows and talent. They emphasized their commitment to the NBA, built over a span of 40 years, and their eagerness to continue the partnership for many more years.

The paperwork confirming the matching bid was submitted to the league, and WBD now awaits the NBA's acknowledgement and execution of the new contract.

While the statement did not provide specific details, it has been rumored that Amazon may have offered to provide a significant amount of upfront cash for several years of the deal, possibly covering it in escrow. On the other hand, sources indicate that WBD has secured a signed letter of credit from banks, enabling them to do the same.

WBD has a long-standing partnership with the NBA, with Turner Sports hosting games for the majority of the past four decades. Now, with the inclusion of Max, WBD aims to match Amazon's streaming deal and offer play simulcasts on TNT.

Following the expiration of WBD's exclusive negotiation window with the NBA in April, talks between the two parties continued. Eventually, the NBA settled on three other partners - incumbent Disney/ESPN, NBCUniversal, and Amazon Prime Video. These new 11-year deals, valued at around $76 billion, are expected to take effect after the conclusion of the 2024-25 season.

NBA Commissioner Adam Silver confirmed last week that media deals had been agreed upon, though they still required finalization, as WBD had a five-day window to respond.

In a note from TNT Sports, the network expressed their pride in delivering excellent coverage to basketball fans throughout their four-decade partnership with the NBA. They stated that their bidding process was conducted in good faith, with the intention of presenting fair offers to both parties. Unfortunately, they received official notification from the league accepting other offers for the games in their current rights package, prompting them to proceed under the matching rights provision outlined in their existing agreement.

The NBA now holds the responsibility of responding to WBD's matched bid. The outcome of this decision will shape the future of NBA broadcasting, and fans await the league's response eagerly.

Title: Warner Bros. Discovery Matches Amazon's $1.8 Billion NBA Package Bid, Awaits NBA's Response