Warner Bros. Discovery's internal focus has been on potentially matching a package of games earmarked for Amazon, sources tell CNBC.
Under the terms of that agreement, which runs out after the 2024-25 season, Warner Bros. Discovery can match a competing bid for the games it currently licenses from the NBA. Warner Bros. Discovery hasn't yet seen the three potential packages because the league hasn't officially signed agreements with any of its potential media partners. It also hasn't communicated any plans on matching or not matching with the league, said the people.
Spokespeople for the NBA, Warner Bros. Discovery and NBCUniversal declined to comment. Representatives from Amazon didn't immediately return request for comment.If the current slate of NBA games aired on TNT is split into two or more packages, Warner Bros. Discovery believes it has the right to match any of those offerings, or at least the parts of them that include the current TNT games, according to people familiar with the company's thinking.
Warner Bros. Discovery is interested in a more affordable package of games given its gross debt of about $42 billion — more than doubles its current market capitalization of about $20 billion — making the package that's likely earmarked for Amazon appealing. That package tentatively includes All-Star games and conference finals games, which have aired on TNT, according to a person familiar with the matter.
Zaslav has told colleagues he believes NBCUniversal is overspending for the NBA, based on his company's research into ratings and potential subscriber value for a subscription streaming service, according to a person familiar with the matter.
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