Warner Bros. Discovery is trying to hold on to the rights to air NBA games as NBC, Disney and Amazon compete for their own league packages.
The shot clock is ticking down on Warner Bros. Discovery in its effort to land a new media rights deal for the NBA. Warner Bros. Discovery Chief Executive David Zaslav said Thursday the company continues negotiating with the league to retain its package of NBA contests, a marquee attraction for its TNT cable channel, but offered no clue on where the discussions would end up.
The company would have to negotiate its next round of deals for TNT and other channels without offering the NBA, at a time when such talks are increasingly contentious. Despite strong continued growth for its direct-to-consumer streaming business, the first-quarter earnings picture for Warner Bros. Discovery was mixed. The company missed Wall Street's expectations on revenue, which declined year-to-year by 7% to $9.96 billion. Analysts expected $10.2 billion.
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