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NBA Announces New $24 Billion TV Deal

The NBA has renewed their media rights deals with ESPN and TNT, the league has announced that they have signed a massive 9-year, $24 billion deal. The deal will take effect in the 2016-17 season, it will run through to the 2024-25 season.

Via NY Times:

The deals, which will be announced Monday, represent a near-tripling of the annual average rights fees that ESPN and TNT have been paying in contracts that will end after the 2015-16 season.

The average yearly payments will rise from about $930 million to $2.66 billion.

The N.B.A. is the latest sports league to benefit from networks’ ever-growing belief in the power of live sports — and their willingness to pay richly for it.

Rights deals keep rising without any sign of abating, as do the monthly cable bills for consumers, which have been heavily affected by skyrocketing sports rights.

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