'We’re in new territory': TV networks face lost ad revenue and looming rights obligations after NBA suspends season
The National Basketball Association’s suspension of its season over the coronavirus will have major fallout for its TV partners, hitting their advertising revenue and potentially leaving them on the hook for big rights-fees payments, according to analysts and people familiar with the NBA’s rights deals.
Walt Disney Co.’s ESPN and AT&T Inc.’s Turner, the parent of TNT, together spend about $2.7 billion annually to show games nationally. In addition, regional sports networks owned by media giants such as Comcast Corp. and...
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