Warner Bros. Discovery stock tumbles as NBC reportedly preps bid for NBA rights

Yahoo Finance05-01

Warner Bros. Discovery (WBD) stock fell more than 9% on Tuesday after The Wall Street Journal reported late Monday that Comcast's NBCUniversal (CMCSA) is working on a bid for an NBA rights deal that ...

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Discovery (WBD) stock fell more than 9% on Tuesday after The Wall Street Journal reported late Monday that Comcast's NBCUniversal (CMCSA) is working on a bid for an NBA rights deal that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/warner-bros-discovery-stock-tumbles-as-nbc-reportedly-preps-bid-for-nba-rights-172755054.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warner Bros. Discovery stock tumbles as NBC reportedly preps bid for NBA rights</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarner Bros. Discovery stock tumbles as NBC reportedly preps bid for NBA rights\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-01 01:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/warner-bros-discovery-stock-tumbles-as-nbc-reportedly-preps-bid-for-nba-rights-172755054.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warner Bros. Discovery (WBD) stock fell more than 9% on Tuesday after The Wall Street Journal reported late Monday that Comcast's NBCUniversal (CMCSA) is working on a bid for an NBA rights deal that ...</p>\n\n<a href=\"https://finance.yahoo.com/news/warner-bros-discovery-stock-tumbles-as-nbc-reportedly-preps-bid-for-nba-rights-172755054.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WBD","symbol_name":"Warner Bros. 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Discovery stock is on track for its lowest close since March 2009.According to the Wall Street Journal, NBC is nearing a deal to pay $2.5 billion a year to air a package of NBA games, more than double the $1.2 billion annual fee Warner Bros. Discovery currently shells out.Warner Bros. Discovery was unable to strike a new agreement with the league before its exclusive negotiation period expired last week, according to the report. The NBA's current rights deal expires at the end of next season.Disney , the NBA's other major broadcast partner, has reportedly agreed to increase its payment of $1.5 billion a year to $2.6 billion in order to renew its deal, according to the Journal.The interest in sports rights has esca","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"WBD":"Warner Bros. Discovery"},"translate_title":"据报道，NBC准备竞标NBA转播权，华纳兄弟探索公司股价暴跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WBD":1},"content_text":"Warner Bros. Discovery (WBD) stock fell more than 9% on Tuesday after The Wall Street Journal reported late Monday that Comcast's NBCUniversal (CMCSA) is working on a bid for an NBA rights deal that could move the league off Warner Bros.'s TNT network.\nWith Tuesday's decline, Warner Bros. Discovery stock is on track for its lowest close since March 2009.\nAccording to the Wall Street Journal, NBC is nearing a deal to pay $2.5 billion a year to air a package of NBA games, more than double the $1.2 billion annual fee Warner Bros. Discovery currently shells out. \nThe package would reportedly include playoff and regular season games that would air on the NBC network, along with the company's flagship streaming service Peacock.\nWarner Bros. Discovery was unable to strike a new agreement with the league before its exclusive negotiation period expired last week, according to the report. The NBA's current rights deal expires at the end of next season.\nDisney (DIS), the NBA's other major broadcast partner, has reportedly agreed to increase its payment of $1.5 billion a year to $2.6 billion in order to renew its deal, according to the Journal. \nAmazon (AMZN) is also in talks for a streaming rights package through its Prime Video service.\nThe interest in sports rights has escalated in recent years with tech giants like Amazon, Apple (AAPL), and YouTube (GOOG, GOOGL) committing more heavily to streaming deals over the past several years. \n\n\n\n  Los Angeles Lakers forward LeBron James (23) dunks during the first half of Game 3 of an NBA basketball first-round playoff series against the Denver Nuggets in Los Angeles, Thursday, April 25, 2024. (AP Photo/Ashley Landis)\n \n\n  ASSOCIATED PRESS\n \n\nAmazon, which debuted the first Black Friday NFL game in November, agreed to spend $1 billion annually for its 11-year NFL Thursday Night Football deal, while Google's YouTube coughed up a reported $2.5 billion to acquire the sought-after rights to NFL Sunday Ticket.\nApple, meanwhile, announced a 10-year, $2.5 billion agreement with Major League Soccer in late 2022. \nThose deals, funded by the deep pockets of Big Tech, have inflated the overall costs of sports as traditional media giants struggle to keep up amid steep streaming losses and major declines in linear advertising revenue.\nWarner Bros. Discovery recently announced an upcoming \"joint venture\" (JV) sports streaming partnership with ESPN and Fox. Collectively, Disney, WBD and Fox encompass about 55% of overall US sports rights currently.  \n\nAlexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.\nFor the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432830301"}