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Tencent pays US$1.5b for NBA rights

Chinese internet and entertainment giant Tencent has paid US$1.5 billion to renew its exclusive five-year digital licensing contract with the National Basketball Association, some three times the value of their previous agreement, according to a press release by NBA.

Tencent will retain the rights to offer live NBA broadcasts, videos on demand and short video services to Chinese fans through various websites, apps and social platforms under the new deal, Tencent said today in a statement. It will also work with the NBA to create innovative advertising products and to build a fan community, it added.

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