Charter Seeks New Lakers TV Deal as $200 Million Annual Rights Face Cord-Cutting Pressure
Updated
Updated · Los Angeles Times · Aug 21
Charter Seeks New Lakers TV Deal as $200 Million Annual Rights Face Cord-Cutting Pressure
1 articles · Updated · Los Angeles Times · Aug 21
Summary
$200 million a year in Lakers revenue is at risk as Charter CEO Chris Winfrey said Spectrum wants a new long-term arrangement for the team’s TV rights rather than keep the current economics unchanged.
Winfrey called the regional sports network business “significantly challenged,” saying Spectrum has lost hundreds of millions of dollars on the Lakers and Dodgers channels as cable subscribers keep shrinking.
Charter has already hired bankers to explore a sale of Spectrum SportsNet, the Lakers channel, even though the Lakers’ roughly $3 billion local TV contract runs through 2032.
The uncertainty lands as Joshua Kushner and Bob Iger prepare to take over the Lakers in a $12.5 billion sale, inheriting a media model the NBA is already trying to shift toward broader streaming distribution.