Warner Bros. Discovery (WBD) is facing increasing financial pressure as its stock took a sharp 10% hit, plummeting to a new low of $6.90 following a dismal second-quarter earnings report. The steep decline comes on the heels of a massive $9.1 billion write-down on the company’s network assets, signalling the rapid deterioration of the traditional…
NEW YORK, NY – Warner Bros. Discovery (WBD) has initiated legal action against the NBA after the league dismissed its matching offer for broadcasting rights, thereby ending a four-decade-long partnership. The lawsuit, filed Thursday under seal in New York County Supreme Court, follows the NBA’s decision to reject WBD’s $1.8 billion per year bid, favouring…
Warner Bros. Discovery (WBD) has informed the NBA that it will match Amazon’s $1.8 billion annual offer to retain broadcast rights for a package of league games. In a statement on Monday, TNT Sports, owned by WBD, confirmed the submission of matching paperwork to the NBA, emphasizing its eagerness to continue its long-standing relationship with…
