Warner Bros. Discovery $WBD (+1,28%) has extended its media partnership with the NBA by 11 years extended. The deal provides the company with continued comprehensive broadcast rights to NBA games and includes both traditional TV formats and digital streaming platforms. The extension underscores Warner Bros. Discovery's commitment to delivering high-quality sports content and expanding the reach of its platforms.
The partnership is seen as strategically significant as it takes place in a changing media environment where streaming is becoming increasingly important. Warner Bros. Discovery plans to modernize its sports broadcasts and offer them across multiple channels to meet new viewer needs.
Personal opinion:
Strong move, as the NBA in particular, along with the NFL, dominate the sports industry in the US. However, it has not been announced how much the whole thing will cost.
Source:
The news is based on what I personally consider to be reputable sources. However, I do not guarantee their accuracy. No advice.