WARNER BROS DISCOVERY

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• Warner Bros, Discovery, NBA reach settlement on TV rights

  Warner Bros. Discovery and the NBA have resolved their legal battle over broadcasting rights. While Warner Bros. Discovery will no longer air NBA games in the US, the company retains international and digital rights. Under the terms of the new agreement, Warner Bros. Discovery will continue its coverage of NBA content, but with a focus on digital platforms and international markets, while conceding US TV game rights to competitors, as per Variety.

  

• Warner Bros. Discovery ramps up investment in factual entertainment

  Warner Bros. Discovery will invest heavily in India's factual entertainment, planning over 3,000 hours of programming for 2024. This includes both global and local intellectual properties. Popular shows and new series on Discovery Channel, Animal Planet, and TLC will be featured. WBD aims to support each release with strong marketing campaigns.

  

• Warner Bros Discovery expects more subscribers in third quarter

  Warner Bros Discovery expects to add more than six million subscribers to its Max streaming platform in the third quarter, as the service continues to build momentum in international markets. Warner Bros Discovery relaunched its streaming service last May, with expanded programming offerings, to strengthen its position amid competition from giants like Netflix and Walt Disney.

  

• Charter adds Warner Bros Discovery's streaming service at no extra charge

  In an early renewal of their multi-year deal, the companies said an ad-supported version of Max, which includes all HBO and Discovery+ content, will be available to all Spectrum TV Select packages. Charter is the nation's largest pay TV company.

  

• Warner Bros. Discovery International launches WBD AIM

  WBD AIM will broaden WBD’s audience targeting capabilities with access to the vast library of its first-party datasets from across the WBD portfolio and touchpoints, ranging from registration and behaviour to intent and purchase, the company stated in a press release.

  

• S&P lowers outlook for Warner Bros Discovery to 'negative' on cable TV decline

  The cable TV business, which brings in about half of Warner Bros Discovery's revenue, has been struggling with a slump in ad dollars and cord-cutting by consumers shifting to streaming. That forced the company to write down the value of its TV assets by about $9.1 billion earlier this month.

  

• DoorDash to offer Max streaming to members in the US as competition intensifies

  The move makes the San Francisco-based firm the latest entrant into a club of companies integrating streaming services with online delivery platforms as customers look for bundled services that can save them more dollars amid sticky inflation.

  

• Paramount streaming growth eclipses TV unit writedown

  Paramount shares rise as steady streaming growth eclipses TV unit writedown. The streaming profit eclipsed Paramount's nearly $6 billion writedown in the value of its cable networks, a move that highlights the erosion of traditional TV businesses in the streaming era. Legacy media groups including Paramount and Walt Disney have struggled to stem declines in their TV businesses, as consumers ditch cable television in favor of streaming, resulting in dwindling viewership and revenues.

  

• Warner Bros Discovery writes down TV assets by $9 bln amid uncertainty over fees, sports rights renewals

  The film and entertainment studio, which owns sports network TNT and streaming service Max, recorded a $9.1 billion non-cash goodwill charge in the second quarter. This charge, stemming from a reassessment of the assets' value since the merger of WarnerMedia and Discovery, contributed to a $10 billion net loss for the quarter.

  

• Warner Bros Discovery sues NBA

  Warner Bros Discovery and its sports division, Turner Broadcasting System, filed a lawsuit on Friday against the National Basketball Association in New York over the league's rejection of its matching bid for media rights. The media company accused the NBA's refusal to honor its right to match offers from a third party violates its agreement with Turner.

  

• Warner Bros Discovery's TNT Sports to match Amazon's bid for NBA broadcast rights

  TNT Sports' announcement comes days after the league informed team owners it had finalized deals with Walt Disney's ESPN, Comcast's NBCUniversal and Amazon. The deal is reportedly valued at $76 billion, and takes effect after the 2024-25 season. The league notified Warner's sports unit last week, triggering a five-day period to inform the NBA whether it would seek to match one of the bids, according to the source.