Warner Bros extends media partnership with NBA for 11 years

11/18/2024

Less than a minute

2024.11.18 09:42

(Reuters) -Warner Bros Discovery (NASDAQ:) said on Monday it had reached a deal with the National Basketball Association to extend their media partnership for an additional 11 years and that it had resolved all disputes related to NBA’s recent media agreements.

© Reuters. FILE PHOTO: Nov 13, 2024; Philadelphia, Pennsylvania, USA; Cleveland Cavaliers center Jarrett Allen (31) and Philadelphia 76ers forward Guerschon Yabusele (28) battle for the tip-off in the first quarter at Wells Fargo Center. Mandatory Credit: Kyle Ross-Imagn Images/File Photo

Warner Bros’ shares rose 3% in premarket trading. Reuters had reported in July that Warner would sue NBA in New York after the league rejected its matching bid for TV broadcasting rights.

Walt Disney (NYSE:)’s ESPN, Comcast-owned NBCUniversal and Amazon.com (NASDAQ:) had earlier clinched the rights to carry National Basketball Association games in an 11-year deal valued at $77 billion, the league had said in July.

Source link

11/18/2024

Less than a minute