"We just need an opportunity for deregulation, so companies can consolidate and do what we need to be even better," Zaslav told reporters at Allen & Co.'s annual Sun Valley conference. Now, Zaslav sees the same dynamic repeating with Warner Bros. Discovery, whose shares have fallen 36% in the past year as the company focuses on turning its flagship streaming service Max into a globally profitable business and grapples with the possibility of losing NBA media rights after nearly 40 years as a partner. What's ...

Warner Bros Discovery will sue the National Basketball Association in New York after the league rejected its matching bid for TV broadcasting rights, a source familiar with the matter said Thursday. The NBA on Wednesday rejected an offer from Warner's TNT sports division — ending four decades of partnership — and announced new agreements with Walt Disney's ESPN, Comcast-owned NBCUniversal and Amazon in an 11-year deal worth $77 billion. Warner Bros Discovery and the NBA did not immediately respond to Reuter ...

Warner Bros. Discovery (NASDAQ:WBD) stock is taking a beating on Thursday after the NBA rejected a deal to continue its rights agreement with the media company. Warner Bros. Discovery was offering $1.8 billion per year to maintain its rights deal with the NBA. However, this was rejected in favor of an offer with Disney (NYSE:DIS), Comcast's (NASDAQ:CMCSA) NBC and Amazon (NASDAQ:AMZN) Prime Video. That new deal is set to last for 11 years and will bring in about $76 billion for the NBA. Warner Bros. Discover ...

Warner Bros. Discovery (WBD) stock rose Friday, lifted by a a Financial Times report saying the company might separate its movie studio and Max streaming service from its legacy TV networks. Warner Bros. Discovery owns Turner Sports, which has broadcast "Inside the NBA" on TNT for over a decade. The NBA's media rights deal also includes games broadcast by Disney and Universal for a total $76 billion package over 11 years. WBNA games, also included in the package, make up about $2.2 billion of the total. Key ...

The unlikely rally actually makes sense given how much investors were hoping someone would say what was just said. The thing is, these assumptions aren't crazy. You know the company. Warner Bros. Discovery was created via the merger of WarnerMedia with Discovery Inc., the company behind cable channels including TNT, The Food Network, CNN, Animal Planet, and, of course, The Discovery Channel. Perhaps most notably, Warner Bros. Discovery also owns streaming platform Max (formerly HBO Max). At the same time, t ...

That's basically the pitch the management of Warner Bros. Discovery is floating to investors today, via a story in the Financial Times: "A dramatic plan to split its digital streaming and studio businesses from its legacy television networks." But the biggest takeaway is the seeming admission behind the trial balloon: That the WarnerMedia-Discovery deal — pitched at the time as a way to scale up to fight Netflix and Big Tech companies — hasn't worked. Advertisement Advertisement Plus, separating HBO and the ...

In this article Jaylen Brown, #7 of the Boston Celtics, shoots a three-point basket against the Dallas Mavericks during Game 5 of the 2024 NBA Finals at TD Garden in Boston on June 17, 2024. With National Basketball Association media rights approaching final form, Warner Bros. Discovery is about to make its play. A TNT spokesperson confirmed the receipt of the documents and acknowledged the company is currently reviewing the terms. Warner Bros. Discovery received the contract framework on Wednesday night, a ...

About this content Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The Canberra Times, an ...

Investors in Warner Bros. appear excited about the prospect of the company splitting off its streaming division. These reports sent shares of WBD 6.6% higher on Thursday morning. We are offering up insight into all of the biggest stock market news that traders need to know about on Thursday! Among that is what has shares of NKGen Biotech (NASDAQ:NKGN), Trump Media & Technology Group (NASDAQ:DJT) and Agenus (NASDAQ:AGEN) stock moving today. You can find out more on these matters down below! Warner Bros. (NAS ...

The media giant's market capitalization has fallen by a third to about $20 billion, and its stock has plunged nearly 70% since the company was formed via a merger between Warner Bros. and Discovery in 2022. 4 Warner Bros. DIscovery CEO David Zaslav is reportedly considering strategic options for his company, including a potential split of the TV assets from the streaming service and movie studio. REUTERS This could help its faster-growing streaming service spin off and achieve a higher valuation multiple, b ...