• Loading stock data...
Friday, May 30, 2025

WBD Secures Comcast Deal, Readies for Future Without NBA Rights

The outlook this past summer was grim for the TNT Sports parent company. A flurry of content and distribution deals have remade its look and future prospects.

Kirby Lee-Imagn Images

Warner Bros. Discovery’s ongoing preparation for an existence without domestic NBA media rights continues to gather steam, representing one of the unlikelier stories in the media industry. 

The TNT Sports parent this week completed a large-scale distribution agreement with Comcast, the second-largest U.S. cable company, that will cover not only domestic distribution but also the U.K. and Ireland. Following a somewhat similar deal WBD struck in September with Charter Communications, the No. 1 carrier, Comcast will continue to carry key WBD networks such as TNT, TBS, CNN, Discovery, Food Network, HGTV, and TLC.

The Comcast pact marks the latest in a steady flow of new business for WBD under CEO David Zaslav since the NBA announced in late July its plan to move forward without TNT Sports holding national rights with the league, starting with the 2025–2026 season. 

In the last four months, WBD has also moved heavily into college football and basketball, picking up partial game rights to the Big 12, Big East, and Mountain West conferences as well as the College Football Playoff, in turn helping protect the company’s critical carriage fees. The run of activity additionally includes the resolution of WBD’s lawsuit against the NBA, with the company acquiring a broad set of league content and highlight rights, including live rights in several international territories, and a “reimagined and enhanced” partnership for NBA Digital.

That settlement further involved a three-way agreement with ESPN, paving the way for TNT Sports’ Inside the NBA to move to the Disney-owned network.

“These broad and multiyear agreements underscore the value and appeal of our linear portfolio,” said Bruce Campbell, WBD chief revenue and strategy officer, of the Comcast agreement, which included a resolution of an outstanding legal dispute there, too. 

Stock Run-Up

Investors have clearly taken notice of WBD’s ongoing reconstruction. After hitting a 52-week low in early August, days after the NBA media deals were announced, WBD shares have grown more than 60%, and by more than 15% just in the last month. 

There’s still a big hill to climb, though, as the stock is still less than half the level it was at when the current company was created following a 2022 merger with Discovery, Inc. There’s also an investor lawsuit against the company that is seeking class-action status. But it’s becoming increasingly clear there indeed can be life for WBD without its long-held NBA live rights deal in the U.S., and has given some vindication to Zaslav’s much-scrutinized 2022 comment that WBD didn’t “have to have the NBA.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

MSG Tickets for Potential Pacers-Knicks Game 7 Start at $1,100

The current get-in price for a potential Game 7 is $1,099.

French Open Scheduling Sparks Backlash Over Women’s Time Slots

Coco Gauff has also said the French Open schedule could be improved.

Chiefs, Royals Stadium Plans Hit Political Wall As Both Parties Say No

Both Republicans and Democrats in Missouri oppose public funding for stadiums.
Zion Williamson
breaking

Zion Williamson Accused of Rape and Abuse in Lawsuit

The woman says their relationship began when he was at Duke in 2018.

Featured Today

How the Champions League Anthem Took on a Life of Its Own

The composer didn’t know he wrote a timeless hit three decades ago.
May 25, 2025

How Rolex Paved the Way for Luxury’s Love Affair With Tennis

“It’s almost impossible to think about tennis without thinking about Rolex.”
Mar 23, 2025; Miami, FL, USA; Alexandra Eala (PHI) reacts after winning a point against Madison Keys (USA)(not pictured) on day six of the Miami Open at Hard Rock Stadium.
May 24, 2025

Alex Eala Is Defying Her Country’s Odds to Make French Open History

The Philippines native has overcome a unique set of financial odds.
May 24, 2025

Indiana Is the Center of the Basketball Universe—Thanks to Both Pro Teams

The Fever and Pacers are thriving at the same time.
May 28, 2025

NBA East Finals Delivers Strong TV Ratings, but West Is Struggling

The Pacers and Thunder are both up 3–1 in their conference finals series.
May 30, 2025

Panthers-Oilers Rematch Could Be Big in Canada. Will U.S. Ratings Dip?

Likely viewership declines in the U.S. are countered by robust Canadian audiences.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

In Episode 7 of Portfolio Players, go inside the boardroom with Avenue Capital CEO and former Milwaukee Bucks co-owner Marc Lasry on Giannis’s future, women’s sports, and upstart leagues like TGL and Unrivaled. 
Around the Horn
May 23, 2025

Behind the Scenes of Around the Horn’s Final Days

FOS followed Tony Reali at the penultimate taping of the ESPN icon.
Around the Horn - October 26, 2020
May 23, 2025

‘Quirky, Nutty, Bombastic’: 10 ‘Around the Horn’ Faces on Their Top Moments

“A quirky, nutty, bombastic, mostly wrong, sometimes right, crazy sports family.”
May 22, 2025

NBC Eyes MLB Rights, Looks to Own Sunday Nights Year-Round

The league continues to shop media rights being forfeited by ESPN.
May 21, 2025

Paige Bueckers’s WNBA Debut Delivers 121% Ratings Bump on Ion

Friday’s doubleheader averaged 612,000 viewers.