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NBA Slams Warner Bros. Discovery (WBD) Stock with Deal Rejection
WBDWarner Bros. Discovery(WBD) Investor Place·2024-07-25 14:14

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 1.8billionperyeartomaintainitsrightsdealwiththeNBA.However,thiswasrejectedinfavorofanofferwithDisney(NYSE:DIS),Comcast′s(NASDAQ:CMCSA)NBCandAmazon(NASDAQ:AMZN)PrimeVideo.Thatnewdealissettolastfor11yearsandwillbringinabout1.8 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 ...