Investing.com – Shares of Warner Bros. Discovery (NASDAQ:) rose on Monday after the media conglomerate agreed to end its intention to broadcast live NBA games in the United States beginning with the 2025 season -26, resolving all legal disputes with the league.
The media company had filed a lawsuit against the NBA in July, alleging that the league had not allowed it to exercise its matching rights on a package of live games.
The NBA, on the other hand, chose disney (NYSE:), Comcast's NBCUniversal and amazon (NASDAQ:) Prime Video as its US media partners for an 11-year deal starting next season. The deal, which also includes WNBA games, is valued at approximately $77 billion, according to previous CNBC reporting.
The deal, announced Monday, along with a separate agreement between Warner Bros. Discovery and ESPN, ensures that Warner Bros. Discovery remains involved with some NBA content through production collaborations and licensing deals. However, it formally ends Turner Sports' 40-year role as the American broadcaster of live NBA games after this season.
Under the terms of the agreement, Warner Bros. Discovery's TNT Sports will retain access to NBA highlights for use on its Bleacher Report news platform and social media channel, House of Highlights, for the next 11 years. .
“Together, these agreements ensure that fans will continue to enjoy TNT's Inside the NBA and will create tremendous value for our entire portfolio as we accelerate the growth of TNT Sports, Bleacher Report, House of Highlights and our global sports business,” said David Zaslav, CEO of Warner Bros. Discovery.
The deal also gives Warner Bros. Discovery the right to license and distribute NBA content on its platforms and includes live game rights in the Nordic countries, Poland and Latin America, excluding Brazil and Mexico.
Additionally, the agreement extends the partnership between NBA Digital and TNT Sports for five more seasons, allowing the NBA to collaborate with Warner Bros. Discovery on “promotion and a variety of services, including production services, content development and media operations.” sales,” according to a statement.
While the league will not pay Warner Bros. Discovery additional fees beyond the terms of the agreement, the deal guarantees the company a steady stream of revenue from its collaboration with the NBA.
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