According to insider sources, Warner Bros. Discovery has resolved its breach-of-contract lawsuit against the National Basketball Association (NBA).
As part of the settlement, Warner Bros. Discovery will retain its partnership with the league for the next decade. An official announcement is expected early next week.
Warner Bros. Discovery and its sports division, Turner Broadcasting System, initially filed the lawsuit after the NBA’s decision in July to award broadcasting rights to Disney’s ESPN, Comcast’s NBCUniversal, and Amazon under an 11-year, $77 billion agreement.
Warner Bros. Discovery alleged that the NBA breached its contract with Turner by failing to honor its right of first refusal for third-party offers. The settlement grants Warner Bros. Discovery significant rights to NBA content both domestically and internationally while enabling the league to avoid a prolonged legal dispute.
Following the news, Warner Bros. Discovery’s stock declined by 6.49%, closing at $9.22.
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