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NETS HIRING DAVID LEVY AS CEO, REPLACING BRETT YORMARK

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NBA Announces New Media Partnerships Photo by Jennifer Pottheiser/NBAE via Getty Images

David Levy, who left the presidency of Turner Media in March, is being hired to replace Brett Yormark as CEO of the Nets, reports Adrian Wojnarowski.

Woj describes Levy as having a “strong relationship” with commissioner Adam Silver.

Woj had previously described Levy as a “serious candidate” the job. Yormark, who’s been CEO for the Nets and Mikhail Prokhorov’s other sports properties for 14 years, is expected to leave this week.

It is Joe Tsai’s first big ticket signing ... and there are few sports executives with Levy’s resume’.

Levy exited Turner, which has had extensive business with the NBA, during a shake-up following AT&T’s acquisition of Time Warner, parent of Turner Sports.

”After things wind down here, I’ll take a little time off, for sure. Call it a summer vacation. But come fall, my wife tells me I’d better be out of the house, so…” Levy told Ad Age back in March.

When Levy departed, he had been in the CEO role since 2013 and with the company since 1987. In his CEO role, he oversaw the company’s portfolio of domestic networks, including TBS, TNT, Cartoon Network, Adult Swim, Boomerang, truTV and Turner Classic Movies (TCM).

Prior to serving as head of Turner Media, Levy had spent 10 years with Turner Sports, famously engineering the landmark TV and digital rights deal with the league. He had been key to negotiating Turner’s big sports rights deals, most notably with the NBA (for TNT) and MLB (for TBS). The NBA package, which also included ABC and ESPN, provided the league with a guaranteed $24 billion in revenues over nine years.

He also greenlighted the pairing of Charles Barkley and Kenny Smith on TNT’s basketball coverage.

Moreover, Levy engineered of Turner’s joint pact with CBS to televise the NCAA men’s basketball tournament —March Madness— and its recent involvement with the e-sports E-League joint venture with WME/IMG.

The former Turner CEO has been on the advisory board of Brooklyn Sports & Entertainment, Mikhail Prokhorov’s holding company, since its formation by Yormark over three years ago. Levy’s son, Brett, was a video coordinator for the Nets from 2015 through 2018. He now works for the Hornets.