Basketball Fan
08-26-2014, 06:16 PM
http://probasketballtalk.nbcsports.com/2014/08/26/report-turner-broadcasting-planning-layoffs-in-advance-of-rising-nba-rights-fees/
[QUOTE]Report: Turner Broadcasting planning layoffs in advance of rising NBA rights fees
Turner Broadcasting and Disney-owned properties ABC and ESPN exclusively share the national television rights to broadcast NBA basketball, and Turner wants to make sure that they keep their standing in this very lucrative partnership.
In advance of negotiations with the league on fees that are expected to soar in the next deal, Turner has reportedly planned layoffs in order to have the necessary cash on hand to pay whatever renewing the contract will cost.
From Darren Heitner of Forbes:
According to the New York Post, Turner Broadcasting is preparing to let go of roughly 550 employees in order to have enough money on hand to pay for an expected increase in NBA media rights fees. The current media rights agreement with the aforementioned television networks is set to expire in 2016. Rising rights fees, along with costs to broadcast more original programming, are predicted to lead to the layoffs at Turner owned TNT, TBS, CNN and truTV.
An internal memorandum circulated within Turner and dated August 19 reveals that the job cuts may be completed over the next two months.
[QUOTE]Report: Turner Broadcasting planning layoffs in advance of rising NBA rights fees
Turner Broadcasting and Disney-owned properties ABC and ESPN exclusively share the national television rights to broadcast NBA basketball, and Turner wants to make sure that they keep their standing in this very lucrative partnership.
In advance of negotiations with the league on fees that are expected to soar in the next deal, Turner has reportedly planned layoffs in order to have the necessary cash on hand to pay whatever renewing the contract will cost.
From Darren Heitner of Forbes:
According to the New York Post, Turner Broadcasting is preparing to let go of roughly 550 employees in order to have enough money on hand to pay for an expected increase in NBA media rights fees. The current media rights agreement with the aforementioned television networks is set to expire in 2016. Rising rights fees, along with costs to broadcast more original programming, are predicted to lead to the layoffs at Turner owned TNT, TBS, CNN and truTV.
An internal memorandum circulated within Turner and dated August 19 reveals that the job cuts may be completed over the next two months.