Warner Bros. Discovery, the parent company of TNT, announced Monday that it will maintain access to coveted National Basketball Association content for another 11 years under a settlement agreement with the league, but will no longer be available in the U.S. The match will not be televised.
However, the new deal will allow WBD to license the network's popular studio pregame and halftime show, “Inside the NBA,” to ESPN and ABC.
This also includes the right to broadcast matches live in the Nordic countries, Poland and Latin America, excluding Brazil and Mexico.
However, the deal does not include live game rights in the important U.S. market, meaning TNT's more than 40-year run broadcasting NBA games will end after this season.
In July, Warner Bros. Discovery accused the NBA of rejecting matching bids for media rights after the league announced $77 billion deals with Walt Disney Co.'s ESPN, Comcast's NBCUniversal and Amazon. filed a lawsuit.
“This settlement is a reasonable compromise that most NBA fans will welcome,” said Ross Venez, senior analyst at eMarketer.
“The odds of success in WBD's case were slim. This concession is better than nothing.”
Both sides had entered the legal discovery phase of the case before deciding to reach a settlement.
News of the settlement was welcomed by Wall Street investors, with Warner Bros. Discovery shares up more than 3% as of Monday afternoon.
WBD, which also owns CNN after a major merger in 2022, is down 18% this year as ratings continue to plummet at the cable news channel.
The loss of NBA rights in the U.S. was another blow to Warner Bros. Discovery, as live sports remains one of the few revenue generators on terrestrial television.
The NBA's new deal with Warner Bros. Discovery will allow the media company's digital properties Bleacher Report and House of Highlights to continue to have access to NBA content.
The NBA will pay Warner Bros. Discovery $350 million over the term of the agreement to provide services to the league's digital operations, including promotions, programming and marketing.
Most importantly for fans and viewers, the deal means TNT Sports will continue to produce “Inside the NBA” and license the show to ESPN and ABC starting next season.
The show has gained many fans thanks to the chemistry and humor shared by co-hosts Charles Barkley, Shaquille O'Neal, Kenny Smith, and Ernie Johnson, and the same cast of characters remains in Disney's It will be licensed to a subsidiary.
ESPN will continue to produce its own studio programs, “NBA Countdown'' and “NBA Today.''
The deal also calls for ESPN to sublicense Big 12 Conference college football and basketball games to Warner Bros. Discovery, which will air them on TNT and stream them on Max. There is.
In March, Disney and Warner Bros. Discovery signed a five-year deal under which ESPN would sublicense College Football Playoff games starting this season.
“These agreements will continue to allow fans to enjoy TNT's Inside the NBA and accelerate the growth of TNT Sports, Bleacher Report, House of Highlights and our global sports business. “We are committed to creating significant value across our portfolio,” said Warner Bros. Discovery CEO David. Zaslav said.
“We are pleased to partner with the NBA and Disney/ESPN to secure long-term rights and revenue for WBD.”
