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Nexstar CEO: College Conferences, Motorsports Exploring Deals With The CW

“While an agreement could be struck as early as this fall, Sook said that more enticing options are not available until 2026.”

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After Nexstar Media Group agreed to a multiyear media rights deal with LIV Golf to broadcast several of its matches, other sports entities have become interested in doing the same. At this week’s SVB MoffettNathanson Technology, Media and Telecom Conference, Nexstar CEO Perry Sook conveyed that ever since the company was willing and able to program sports games on the weekends, various properties have explored partnerships with the network. Among them are various conferences comprising the Power Five, along with motorsports groups.

While an agreement could be struck as early as this fall, Sook said that more enticing options are not available until 2026.

The Pac-12 is at the conclusion of a 12-year contract with ESPN and FOX Sports, but has yet to find a match for a new contract. Washington State University President Kirk Schulz hopes a deal can be struck “in the next few weeks to a month,” perhaps leading to conference expansion. After conversations between the Pac-12 and Nexstar Media Group were reported and subsequently repudiated last month.

The deal The CW has with LIV Golf is a revenue-sharing agreement without a lump sum rights fee paid for the first two years. It has been viewed as somewhat polemical because of the backing the league received from the Saudi Arabian government, which the public associates with terrorism and human rights violations. The moderator of the conversation described the agreement as something that “fell into [their] lap,” a description Sook refuted.

“It didn’t drop in our lap,” Sook said. “We had to go get it and we had to do a lot of selling, but we did get it. They were willing to take a chance with us. We were willing to take a chance with them. I think both parties are pleased.”

Sook claims that CW affiliates did not express pushback to the pact with LIV Golf, stating they were “100% for it.” Yet eight CBS-owned CW affiliates, along with several others owned by Scripps Media and Sinclair Broadcast Group, either declined or did not immediately agree to broadcast the golf tour.

Since March 2023, sales around LIV events have steadily improved with every tournament. Sook says it demonstrates to prospective advertising clients the effectiveness of doing business with Nexstar and The CW.

“We’re very pleased at taking this from signing the contract two weeks before we went on the air [and] not a lot of promotion to steady growth. That’s really what The CW is all about from this point forward – steady growth.”

The golf tour, however, recently announced it will cease releasing viewership information going forward after reportedly lower-than-anticipated ratings. It believes data from Nielsen Media Research, which is measured for network broadcast windows only, is not completely representative of its viewership. Certainly, that will be on the minds of other, more established leagues and promotions as they enter into conversation with Nexstar.

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Report: No New NBA Media Rights Deal Expected Within Exclusive Negotiating Window

“Starting next week, the NBA will have the ability to engage in negotiations with other companies interested in the media rights package.”

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NBA Logo
Courtesy: Nic Antaya, Getty Images

The NBA is currently in the penultimate season of its existing national television media rights deals with The Walt Disney Company and Warner Bros. Discovery, collectively worth a reported $24 billion over the eight-year contracts. The league entered into an exclusive negotiating window with both broadcasting partners starting on Saturday, March 9, but is reportedly unlikely to reach a new deal before its expiration on Monday, according to Alex Sherman of CNBC.

Even if no deal ends up being reached by the deadline, both companies are in discussions about new media rights contracts with the NBA, as confirmed by the league. These discussions follow a 2023-24 season that garnered an average of 1.09 million viewers across ABC, ESPN, TNT and NBA TV, which is up 1% over last year and represents the highest average across networks in four years, according to Jon Lewis of Sports Media Watch. Both networks will begin broadcasting the NBA Playoffs on Saturday, April 20.

“We continue to have productive discussions with Disney and Warner Bros. Discovery on a renewal of our media deals,” an NBA spokesperson said in a statement to CNBC.

Starting next week, the NBA will have the ability to engage in negotiations with other companies interested in the media rights package. As reported by CNBC, Amazon, Apple, YouTube TV, Comcast (NBCUniversal/Peacock) and Netflix have all expressed potential interest through conversations with the league. Numerous reports have indicated that the league is looking to add a streaming element into its next deal and is looking for an increase in rights fees. The NBA could reportedly look to sell games within the In-Season Tournament to a separate media company, potentially adding a fourth partner in the deal.

Warner Bros. Discovery linear network TBS began airing NBA games in 1984, with TNT following four years later. The Walt Disney Company has presented the league since 2002 across ABC and ESPN, which includes broadcasts of the NBA Finals. Both companies are aiming to launch a new joint streaming venture with FOX Corporation in the fall that would grant subscribers access to games and networks from all three companies.

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David Roberts of ESPN: ‘The More Versatile You Are, The More Valuable You Are’

“The last thing we want is talent that’s all the same, which amounts to nothing more than elevator music.”

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David Roberts
Courtesy: ESPN

ESPN is prepared to begin its coverage of the 2024 NBA Playoffs as 16 teams battle to hoist the Larry O’Brien Trophy as league champions. Various stars from across the Association will participate in the action starting with Round 1 on Friday night, including LeBron James, Jayson Tatum and Nikola Jokić.

Additionally, NBA on ESPN playoffs coverage will mark the postseason debut of the network’s new lead broadcast team of play-by-play announcer Mike Breen, analysts Doris Burke and JJ Redick and reporter Lisa Salters. Redick was originally a member of the secondary broadcast team with Ryan Ruocco, Richard Jefferson and Cassidy Hubbarth, but the departure of Doc Rivers from the lead crew to coach the Milwaukee Bucks led to this change.

Earlier in the year, ESPN Head of Event & Studio Production David Roberts referred to the secondary broadcast team as “the potential making of a succession plan.” With the alteration to the broadcast teams in-season though, he remains optimistic that the network will present a strong playoff performance. Redick brings a different perspective to the lead broadcast crew of a player recently removed from NBA game action who has demonstrated a propensity for analytics and explaining their significance to trends within the game. Outside of his broadcasting work, he exhibits versatility in sports media, appearing on various ESPN programs such as First Take, co-hosting both The Old Man and the Three and Mind the Game podcasts and co-founding ThreeFourTwo Productions.

“Hey, it makes us all look good,” Roberts said of Redick’s versatility. “The fact is that the more versatile you are, the more valuable you are, and JJ Redick and Stephen A. Smith are prime examples of that.”

Smith is a featured commentator and executive producer on First Take, but also engages in a variety of projects outside of the morning show. During the NBA season, he appears in studio or on location for NBA Countdown, hosts his own podcast, titled The Stephen A. Smith Show, and operates his media production company, Mr. SAS Productions.

Smith’s contract with ESPN is reportedly due to expire next year, and he has spoken candidly about his worth on numerous occasions. Additionally, he has stated that he wakes up every morning thinking about how he can make his bosses more money and how to get some of it, a sentiment he elaborated on in his best-selling book, “Straight Shooter: A Memoir of Second Chances and First Takes.”

“Stephen A. loves the NBA, and his commitment to covering the NBA is just simply outstanding,” Roberts said. “He’s unafraid to say what needs to be said. He could care less whether someone is ticked off in the process because he also is an outstanding journalist who will back up his opinions with facts. So when you watch Stephen A., you’re watching a multi-versatile individual who can handle just about anything in broadcasting; in fact, I’ll say he can handle anything in broadcasting.”

Roberts proceeded to explain that a majority of ESPN talent are not “cookie cutter” and approach things in their own way. Earlier in the media conference call, he discussed Malika Andrews, who is in her first season hosting NBA Countdown, and how she brings an “exemplary” work ethic to the program. Roberts also divulged that ratings for NBA Countdown are up 7% year-over-year.

Additionally, he spoke about how studio analyst and color commentator Bob Myers always shows up to every meeting prepared and is an innate winner and team player. As long as the talent are doing things that fit their style and the content objectives of ESPN and The Walt Disney Company, Roberts explained, they are allowed to be their authentic selves on the airwaves.

“That’s the type of versatility we’re looking for,” Roberts said, referencing JJ Redick. “The last thing we want is talent that’s all the same, which amounts to nothing more than elevator music.”

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FOX Sports and The Basketball Tournament Announce Multi-Year Agreement

“With a growing number of players I’ve crossed paths within the league committed to play, this summer will be both competitive and entertaining for TBT.”

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Picture of the trophy for The Basketball Tournament
Courtesy: FOX Sports

The Basketball Tournament (TBT), the $1 million winner-take-all summer event announced a multi-year media rights agreement with FOX Sports to carry games on FOX, FS1, and FS2. As part of the agreement, the network will carry 27 TBT games live on linear television, including three on FOX.

“We are thrilled to make FOX Sports the new home of TBT,” said TBT co-owner and Golden State Warriors guard Chris Paul. “The event has experienced tremendous growth these past few years and this agreement will take it to new heights. With a growing number of players I’ve crossed paths within the league committed to play, this summer will be both competitive and entertaining for TBT.”

“We are excited to kick off our second decade of TBT with FOX Sports,” said TBT founder and CEO Jon Mugar. “Across FOX, FS1, and FS2, we will reach more basketball fans than ever before, further cementing TBT as a mainstay on the basketball calendar. This summer will make for our most electrifying tournament yet.”

TBT is a 64-team, single-elimination tournament hosted across eight regionals. All regional events are hosted by an alumni team representing a powerhouse college basketball program.

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