Only days after helping the National Football League negotiate an eight-year, $12 billion contract extension with DirecTV, Covington & Burling assisted the National Basketball Association on its nine-year, $24 billion broadcast rights agreement with ESPN and Turner Broadcasting System.
The Walt Disney Co. owns ESPN, while rival entertainment conglomerate Time Warner controls TBS. While exact financial terms of the combined deals were not disclosed, The New York Times reports that the NBA will almost double the amount it receives each year in rights fees to $2.66 billion from $930 million under the new accord, which starts at the beginning of the 2016-17 season.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
