Sina Secures NBA Broadcasting Rights
Sina (Nasdaq:SINA) has secured exclusive rights in China to offer live coverage, on-demand videos and promotions for the National Basketball Association (NBA) games over the next three seasons, according to a joint press release by the two companies on October 16. The deal was worth between $40 million and $50 million, the report said citing an unnamed NBA China executive. Sina COO Du Hong said the two parties will split earnings from the partnership.
Sina will also host the NBA's official Chinese website as well as operating the official NBA twitter-like microblogging service, the report said.
There are 300 million basketball fans in China, Sina CEO Cao Guowei told Oriental Morning Post.