WBD Leans Further Into Sports With Paramount Deal Looming

Warner Bros. Discovery is in the midst of being acquired by CBS Sports parent company Paramount, but it still has the task of continuing its own operations—whether or not that $110 billion deal closes. That path became somewhat more clear at the network’s upfront presentation on Wednesday. 

The TNT Sports parent company detailed its programming plans in its presentation to advertisers, and within a matter of minutes, it honed in on the core issue surrounding the company.

“Before we go on, we do want to address the Ellison, I mean the elephant, in the room,” WBD co-head of sales Ryan Gould joked, referencing Paramount CEO David Ellison, who is spearheading the WBD acquisition. “Listen, we don’t deflect. That’s not who we are. Everyone here knows that there’s change ahead and that there’s change in our company. … We’ve been through change and challenges before. We don’t flinch and we meet the moment.”

WBD then detailed its own programming plans, which are focused in part on its live coverage of MLB, the NHL, French Open tennis, NASCAR, and the Big 12 Conference, among other sports properties. TNT Sports broadcaster Adam Lefkoe then led a montage of the network’s rights, and also teased coverage of Dunkman, a pro dunk league established by NBA legend and Inside the NBA personality Shaquille O’Neal. 

Notably, there was no mention of an expanded March Madness. A 76-team format for the NCAA Division I men’s basketball tournament just received approval, and TNT Sports will be part of that. 

The WBD upfront event was a rare one this week that did not involve an NFL rights holder, following prior sessions involving  NBC, Fox, Amazon, and Disney, with Netflix set to follow on Wednesday afternoon.

Deal Flow

The Paramount pact, meanwhile, is projected to close by the third quarter of this year. If that does happen, the combined media entity would have one of the largest sets of sports rights in the industry, with its programming spanning nearly every major sports league outside of the NBA, and including top entities and events such as the NFL, March Madness, and The Masters.

The merger, however, faces a rocky path toward regulatory approval, with multiple officials at state, federal, and international levels quickly signaling concerns.HBO Max was also a core part of the WBD upfront, but once the Paramount deal closes, that company intends to merge the streaming service with its own Paramount+.