Warner Bros Discovery shares fell more than 4% in U.S. premarket trading on Thursday, after the media giant failed to renew broadcasting rights for the NBA games, fueling investor concerns over the future of its TNT and Max streaming service.
Warner Bros Discovery may have been late to the game, but the TNT owner isn't about to let Amazon Prime Video snatch its NBA ball without a fight.
The NBA is negotiating a new media rights deals to begin after this upcoming season. Warner Bros.
Zacks.com users have recently been watching Warner Bros. Discovery (WBD) quite a bit.
Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) TNT network said it has matched rivals offers for NBA basketball games to avoid losing one of its most lucrative sports content deals. NBA games on TNT have been shown since 1989, with its current rights deal costing $1.20 billion annually and ending at the end of the next season.
Bank of America Analysts suggest Warner Bros. Discovery, Inc. should break up the company, separating the legacy assets from the higher growth ones. Such a break-up would be bad for shareholders long-term, given the difficulty in selling off those assets in the current environment, and their strong cash flow generation. There is a lot of overreaction to WBD's underperformance, but the merger's strategic rationale remains intact.
Warner Bros. Discovery WBD, -1.38% informed the league Monday that it will match the $1.8 billion per year offer by Amazon's Prime Video.
Warner Bros Discovery's sports network TNT Sports, which is re-bidding for the broadcast rights for National Basketball Association games, said on Monday it had matched an offer from one of the competing broadcasters and may secure the rights to broadcast the games.
Moviegoers ran toward the tornadoes this weekend, propelling “Twisters” to a blockbuster opening. The standalone sequel to the 1996 hit made $80.5 million in ticket sales from 4,151 theaters in North America, according to studio estimates Sunday.
Warner Bros. Discovery (WBD) reachead $8.67 at the closing of the latest trading day, reflecting a +1.76% change compared to its last close.
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.
Media giant Warner Bros. Discovery is struggling to produce growth.