Warner Bros. Discovery stock tumbles as NBC reportedly preps bid for NBA rights [Yahoo! Finance Canada]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Yahoo! Finance Canada
NBCUniversal ( CMCSA ) is working on a bid for an NBA rights deal that could move the league off Warner Bros.'s TNT network. With Tuesday's decline, Warner Bros. Discovery stock is on track for its lowest close since March 2009. According to the Wall Street Journal , NBC is nearing a deal to pay $2.5 billion a year to air a package of NBA games, more than double the $1.2 billion annual fee Warner Bros. Discovery currently shells out. The package would reportedly include playoff and regular season games that would air on the NBC network, along with the company's flagship streaming service Peacock. Warner Bros. Discovery was unable to strike a new agreement with the league before its exclusive negotiation period expired last week, according to the report. The NBA's current rights deal expires at the end of next season. ADVERTISEMENT Disney ( DIS ), the NBA's other major broadcast partner, has reportedly agreed to increase its payment of $1.5 billion a year to $2.6 billion in
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WBD
Earnings
- 5/9/24 - Miss
WBD
Sec Filings
- 5/17/24 - Form 8-K
- 5/15/24 - Form 4
- 5/14/24 - Form 8-K
- WBD's page on the SEC website