Warner Bros. Discovery 'hopeful' for NBA deal as earnings miss estimates amid linear TV struggles Thu, May 9, 2024, 2:51 PM GMT+2 4 min read 9 Warner Bros. Discovery, Inc. (WBD) NasdaqGS -...
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"We've enjoyed a strong partnership with the NBA for almost four decades. We're in continuing conversations with them now, and we're hopeful that we'll be able to reach an agreement that makes sense for both sides," WBD CEO David Zaslav said on the company's first quarter earnings call. The executive said the company has the ability to match third-party offers before the NBA enters into any agreements, adding it's prepared "for the various potential outcomes." He would not elaborate where current talks stand today. The comments come after the company reported first quarter earnings that missed expectations on both the top and bottom lines. Free cash flow jumped amid aggressive cost cutting, while the company's linear TV business continued to decline. Revenue came in at $9.96 billion, missing Bloomberg consensus expectations of $10.27 billion — a 7% drop compared to the $10.70 billion seen in Q1 2023. The company reported an adjusted loss per share of $0.40 versus a loss $0.44 i
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