The US broadcast rights to the French Open have been bought by Warner Bros.
In addition to its Max streaming channel, the firm noted that coverage on its TNT, TBS, and truTV networks would be provided under the agreement between its TNT Sports subsidiary and the French Tennis Federation.
Although The Athletic claimed Friday that it was for an average of $65 million year, up from the previous 12-year agreement paying an average of $12 million annually, financial details were not made public.
Rights From NBC, Tennis Channel Taken Over by TNT Sports
The games had shown on Sinclair’s (SGBI) Tennis Channel and Comcast’s (CMCSA) NBC and Peacock streaming services. After Carlos Alcaraz of Spain won the men’s final on Sunday, NBC’s Noah Eagle said that TNT Sports will be acquiring the U.S. broadcast rights.
Since 1983, NBC had the broadcast rights in the United States.
bringing the tennis Grand Slam event, according to TNT Sports CEO Luis Silberwasser, “perfectly aligns with our global sports strategy and our commitment to adding premium live sports content to our TNT Sports portfolio.”
Warner Bros. Discovery pointed out that the deal expands upon its 35-year partnership with Eurosport, which offers the French Open to 55 nations outside of the United States.
TNT of WBD Also Seeking to Hold NBA Rights
The announcement coincides with TNT, owned by WBD, attempting to hang onto its priceless NBA rights, which it has had since 1989. The NBA and long-time rights holder ESPN of The Walt Disney Co. (DIS) have an outline arrangement worth $2.6 billion annually, while the NBA has a framework agreement for $1.8 billion with Amazon’s (AMZN) Amazon Prime Video, according to The Athletic. According to stories in The Wall Street Journal and The Athletic, NBC is willing to shell up $2.5 billion annually to regain the NBA rights it last had in 2002.
Tuesday’s session ended with Warner Bros. Discovery shares down 1% to $8.04, while Sinclair stock down 1.4% to $12.04. Shares of Comcast dropped 1.2% to $38.32. This year, all three are in negative territory; WBD shares are down almost 30%.
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