• Loading stock data...
Wednesday, December 11, 2024
The 2024 Best Employers in Sports Award winners have been announced! See the full list of winners

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

F1’s TV Ratings Similar to 2023, but Still Below the Record Highs..

The F1 season averaged 1.1 million viewers in the U.S.

Mountain West Adds UC Davis, Wants Northern Illinois

The Aggies’ football team will stay in the FCS.
Tilman Fertitta

Rockets Owner Tilman Fertitta in Line for Trump Appointment, Wants to Buy..

Fertitta had given hundreds of thousands of dollars to Trump.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
Sep 13, 2024; Bolingbrook, Illinois, USA; (Editors Notes: Caption Correction) Bryson DeChambeau of the Crushers GC and Brooks Koepka of the Smash GC shake hands after the first round of the LIV Golf Chicago tournament at Bolingbrook Golf Club.

DeChambeau, Koepka Hope Showdown Helps Unite LIV–PGA Tour

The golfers will compete against Rory McIlroy and Scottie Scheffler.
December 10, 2024

NBA Cup TV Ratings Down 10% Through Group Play

The NBA has faced stiff competition from other sports.
Nov 15, 2024; Arlington, Texas, UNITED STATES; Mike Tyson (black gloves) fights Jake Paul (silver gloves) at AT&T Stadium.
December 10, 2024

Netflix Spectacle Made Tyson, Paul Top Trending U.S. Athletes of 2024: Google

The Yankees and Dodgers were among the top trending sports team searches in 2024.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
December 9, 2024

Amazon Breaks NFL Streaming Record (Again) With ‘TNF’ Ratings

The “Thursday Night Football” game drew 17.29 million viewers.
December 6, 2024

NHL Winter Classic Shifts to New Year’s Eve Seeking Viewership Boost

The NHL moved its Winter Classic to December for the first time.
Randy Moss
December 6, 2024

Randy Moss Taking ‘Extended’ ESPN Leave With Health Issue

Moss had discussed it on Dec. 1 before stepping away.
December 5, 2024

Netflix Tackles Buffering Woes Just in Time for NFL, WWE Debuts

The streaming giant says it has “learned” from the Paul-Tyson fight.