David Stern: First two weeks of NBA season canceled

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NBA Commissioner David Stern on Monday announced the cancellation of the first two weeks of the regular season after a lengthy negotiating session with locked-out players in New York failed to achieve a new collective bargaining agreement.

Stern, his deputy Adam Silver and selected owners met with union executive director Billy Hunter and president Derek Fisher, working into the night to solve differences on how to divide income and handle caps on each team’s costs.

Thirteen hours of talks in two days, and still no deal.

We’ll have more later at latimes.com/sports.

-- Lance Pugmire