Levy will oversee all business, revenue, strategy, and operations for the Nets and Barclays Center.
"I am excited and honored to join the Nets organization and look forward to working alongside Joe and the talented, forward-thinking executives and team members across the entire organization," Levy said in a statement. "Sean Marks and Kenny Atkinson have done a terrific job instilling a winning culture and I am looking forward to supporting them as we build a sustainable foundation of success on and off the court."
Levy left Turner earlier this year after more than three decades at the company. He'd overseen Turner's domestic networks, including TBS and TNT, and was a key figure in negotiations for the current March Madness television deal.
"David brings a unique combination of sports and media know-how, strategic thinking and operating skills to our sports and entertainment business," Tsai said in a statement. "He is an entrepreneur at heart with the experience of managing and scaling organizations, and I really look forward to working with him."
With the Nets, Levy will replace Brett Yormark, who resigned as CEO of both the team and Brooklyn Sports and Entertainment Group in August.