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NBA signs broadcasting deal with Disney, Amazon, Comcast worth $77 billion

Economic Times

Economic Times · 1y ago

NBA signs broadcasting deal with Disney, Amazon, Comcast worth $77 billion

Walt Disney, NBCUniversal, and Amazon have secured an 11-year, $77 billion deal to carry National Basketball Association (NBA) games. The deal ends the NBA's long-standing relationship with Warner Bros Discovery's TNT Sports division, who fell short in their bid. The new agreement will see an increase in the number of regular-season games televised, with Disney carrying 80 games, NBCUniversal airing 100 games, and Amazon streaming 66 games. The NBA hopes that these partnerships will expand the reach and accessibility of their games for fans worldwide.

Related News

Nita Ambani To Likely Helm The Board Of Reliance-Disney India Media Entity

Inc42 · 1y ago

Nita Ambani To Likely Helm The Board Of Reliance-Disney India Media Entity

Mukesh Ambani's wife Nita Ambani is expected to be appointed as the chair of the board for the merged media businesses of Reliance and Disney in India. The deal, which has been in the works for months, will give Reliance a 51-54% stake in the combined entity, with Disney holding around 40% and the remaining 9% owned by Bodhi Tree. The deal, worth $3.5 billion, will create the country's largest media empire, encompassing TV broadcasting, streaming platforms, and rights to major sports tournaments. The merger still needs approval from the Competition Commission of India.

Disney-Reliance Indian merger: Who are the main rivals?

Reuters · 1y ago

Disney-Reliance Indian merger: Who are the main rivals?

Disney and Reliance are merging to create a new entity that will challenge rivals like Sony and Netflix in India's media and entertainment sector, which is expected to be worth $100 billion by the end of the decade. Some other major players in India's media industry include Zee Entertainment, Sony India, Netflix, Amazon Prime, Bennett Coleman and Company, and Sun TV Network. These companies dominate television broadcasting, video streaming, movie production, and other aspects of the media landscape in India.

Reliance-Disney $8.5 billion merger ahead: RIL wins I&B Ministry’s approval for transfer of channels | Mint

Livemint

Livemint · 11m ago

Reliance-Disney $8.5 billion merger ahead: RIL wins I&B Ministry’s approval for transfer of channels | Mint

Reliance Industries has received approval from India's Ministry of Information and Broadcasting for the transfer of channels ahead of its $8.5 billion merger with Disney. The approval is for the transfer of licenses related to non-news and current affairs TV channels, which will be transferred from Viacom 18 Media to Star India. The merger is subject to the conditions set by the Competition Commission of India, which approved the deal in August. Reliance Industries is set to control over 60% of the combined unit, with Disney owning 37%. The merger signals Reliance's dominance in the sector and its entry into digital streaming.

Disney-owned Star India begins arbitration against Zee Entertainment

Livemint

Livemint · 1y ago

Disney-owned Star India begins arbitration against Zee Entertainment

Star India, a subsidiary of Walt Disney, has initiated arbitration proceedings against Zee Entertainment Enterprises. The dispute stems from an alleged breach of a cricket broadcasting agreement between the two companies. This comes after Zee terminated a deal with Sony for broadcasting ICC men's and under-19 tournaments. Zee claims that Star India violated the agreement and has filed a claim for ₹685.4 million ($8.3 million). Zee Entertainment disagrees with Star's claims and plans to file a response and counterclaims. This follows the failed merger between Zee and Sony.

Zee plunges 30% as investors, analysts bail after failed Sony merger

VCCircle

VCCircle · 1y ago

Zee plunges 30% as investors, analysts bail after failed Sony merger

Zee Entertainment's shares plummeted by 30% as investors and analysts abandoned ship following the company's failed $10 billion merger with Sony's local unit. Concerns about Zee's survival in the competitive broadcasting industry grew as the merger could have helped them compete against Disney, Reliance, Netflix, and Amazon. Zee has already experienced declines in profit, advertising revenues, and cash reserves, leading to uncertainty about its future. Analysts predict further challenges for Zee and a potential loss of its No.2 position in the TV business.

Disney Star faces potential $2 Bn downgrade by Reliance amid Zee-Sony fallout

Inc42 · 1y ago

Disney Star faces potential $2 Bn downgrade by Reliance amid Zee-Sony fallout

Disney Star's valuation may face a potential $2 billion hit following the failed merger between Sony and Zee Entertainment. Zee claims that the ICC TV contract with Disney Star was dependent on the successful completion of their merger with Sony. However, Disney Star disputes this claim. Reliance Industries is closely monitoring the situation as it could affect the value of Disney Star, particularly regarding the ICC TV deal. The fallout from Zee disputing a $1.5 billion sub-licensing deal for ICC has raised concerns about Reliance's downgrade of Disney Star.

Reliance-Disney merger: CCI approves $8.5-billion deal in detailed order — Here’s what it entails | Mint

Livemint

Livemint · 10m ago

Reliance-Disney merger: CCI approves $8.5-billion deal in detailed order — Here’s what it entails | Mint

The Competition Commission of India (CCI) has approved the merger of Reliance Industries and Walt Disney, with certain conditions including the divestment of seven TV channels. The parties have agreed not to bundle TV ad slots for cricketing rights until the end of their existing rights. They will also sell seven TV channels as part of the $8.5 billion merger deal. The Ministry of Information and Broadcasting has already approved the transfer of licenses for non-news and current affairs television channels. The merger solidifies Reliance Industries' dominant position in the media sector in India.

Disney Star ad revenues from Asia Cup may touch ₹400 cr

Livemint

Livemint · 2y ago

Disney Star ad revenues from Asia Cup may touch ₹400 cr

The upcoming Asia Cup's 16th edition, scheduled from August 30 to September 17, is set to feature sought-after India-Pakistan matches, driving demand for broadcasting rights. Disney Star, the broadcaster, is finalizing deals with sponsors such as Coca-Cola's Charged by Thums Up, Amazon Pay, and others. Advertisers can choose packages including India-Pakistan clashes and other matches. Spot rates range from ₹2-3 lakh for non-India matches to ₹25-30 lakh for India-Pakistan encounters. Disney+Hotstar will offer free access on mobile but charge for connected TVs. The ICC World Cup in India between October 5 and November 19 poses another significant test for Disney Star.

Reliance-Disney offer concessions for $8.5 billion India merger deal, but cricket broadcast rights remain a hurdle

Livemint

Livemint · 1y ago

Reliance-Disney offer concessions for $8.5 billion India merger deal, but cricket broadcast rights remain a hurdle

Reliance Industries and Disney are making concessions in order to gain approval from the Competition Commission of India (CCI) for their $8.5 billion media merger deal. The CCI had expressed concerns about the merged entity's power over cricket broadcast rights, which could potentially harm competition. The companies have offered to ease advertising rate hikes and not unreasonably increase them, but they are unwilling to sell any cricket broadcasting rights. It remains to be seen if these concessions will be enough to satisfy the competition regulator.

Zee's $1.4 bn cricket rights deal with Disney falls apart after Sony merger collapses

VCCircle

VCCircle · 1y ago

Zee's $1.4 bn cricket rights deal with Disney falls apart after Sony merger collapses

Zee Entertainment has informed Walt Disney that it is not proceeding with a $1.4 billion deal to acquire cricket TV rights that it had obtained from Disney. The Indian company had signed an agreement with Disney to take over certain International Cricket Council TV broadcast rights, starting in 2024. However, due to financial constraints, Zee missed the first payment to Disney and decided to back out of the deal. This development comes after Zee's planned merger with Sony's Indian business also fell through.

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