Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Warner Bros. Discovery To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in Warner Bros. Discovery between February 23, 2024 and August 7, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] ...

Core Viewpoint - A shareholder has filed a lawsuit against Warner Bros. Discovery (WBD) for allegedly misleading investors regarding the impact of losing its NBA broadcasting rights, which has led to significant financial repercussions for the company [1][5]. Financial Impact - WBD took a substantial $9.1 billion write-down in its networks segment, attributed in part to the loss of the NBA on TNT, during the period from February 23 to August 7, 2024 [2]. - The company's stock price experienced a decline of 69 cents, approximately 9%, closing at $7.02 per share, although it has since recovered to $10.11 [5]. Media Rights Negotiations - Under the previous deal established in 2014, TNT paid an average annual fee of $1.2 billion for NBA rights. However, WBD failed to secure a new deal before its exclusive negotiating window expired in April 2024 [4]. - The NBA is currently in discussions for new media rights deals, with offers from NBC at an average annual fee of $2.5 billion and Amazon at $1.8 billion [4]. Allegations of Misleading Statements - The lawsuit claims that WBD executives, including CEO David Zaslav and CFO Gunnar Wiedenfels, made materially false statements about the company's business prospects and failed to disclose the risks associated with the NBA negotiations [5][6]. - The suit argues that the defendants overstated WBD's financial health, with Zaslav claiming the company was on "solid footing" and confident in its growth trajectory [5]. Legal Proceedings and Settlements - WBD previously sued the NBA over the awarding of its broadcasting package to Amazon, stating that the loss would be devastating. A settlement was later reached, allowing NBA games to be available on Max in certain international markets [7]. - The lawsuit seeks damages for the significant losses suffered by shareholders due to the alleged fraudulent practices and misleading statements by WBD executives [6][7].

NEW YORK, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Warner Bros. Discovery, Inc. (“Warner Bros.” or the “Company”) (NASDAQ: WBD) securities between February 23, 2024 and August 7, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors ...

Warner Bros. Discovery (WBD) shares have dipped 16.7% year to date, underperforming the broader Zacks Consumer Discretionary sector’s return of 10.9%. WBD shares have also lagged the Zacks Broadcast Radio and Television industry’s growth of 44.3% and its peers Netflix (NFLX) , Fox (FOXA) and Townsquare Media (TSQ) . Over the same time frame, shares of NFLX and FOXA have gained 79.1% and 54.2%, respectively, while shares of Townsquare fell 6.2%.During the nine months ended Sept. 30, 2024, WBD revenues fell 6 ...

Analysts praised the agreement reached this week between Warner Bros. Discovery WBD rand the National Basketball Association (NBA) that will see an extension of the two company's partnership for 11 years.As part of the deal, TNT Sports will be licensed to other companies and Warner Bros. will get exclusive rights to NBA games in some international markets. The deal will also see ESPN, a unit of The Walt Disney Company DIS, partner with Warner Bros. to license the popular basketball studio show "Inside the N ...

Shares of Warner Bros. Discovery, Inc. WBD are trading higher Monday. The company said it has reached a deal with the National Basketball Association. The agreement will extend the media partnership for an additional 11 years. Warner Bros also said that it has resolved all recent disputes related to the NBA's media agreement.This development has made Warner Bros. our Stock of the Day.Warner Bros sued the NBA in July. This occurred after the league gave broadcast rights to Comcast Corporation CMCSA, ESPN, an ...

Warner Bros. Discovery agreed to end its quest to own a package of live National Basketball Association games in the U.S. for the 2025-26 season and beyond, settling all of its legal disputes with the league.Warner Bros. Discovery sued the NBA in July, claiming the league failed to allow the media company to use its so-called matching rights on a package of live games.The league selected three media partners — Disney, Comcast's NBCUniversal and Amazon Prime Video — to be its U.S. distributors of live games ...

I analyze oil and gas companies, related companies, and Warner Bros. Discovery in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign ...

Things might look gloomy at CNN with layoffs, salary cuts and a new digital programming model that may or may not work. But On The Money has learned that private equity firms have been crunching the numbers on a possible acquisition of the ratings-challenged network.Don’t exactly hold your breath for anything happening soon, my sources both at CNN and in the private equity business tell me. The network’s parent, Warner Bros Discovery, isn’t yet shopping CNN.Indeed, no firm has made a bid, my sources tell me ...

Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there.The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns.Warner Bros. Discovery (NASDAQ: WBD ) is one of the largest media companies in America. The company was spun off from AT&T and has one of the largest cont ...