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☆ WBD sues NBA over league’s rejection of broadcast matching rights
  + stars: | 2024-07-26 | by ( Liam Reilly | ) edition.cnn.com   time to read: +5 min
Discovery has filed a lawsuit against the NBA after the league rejected its matching offer to broadcast the league’s games for the next decade, ending the media company’s four-decade relationship with the NBA. “Given the NBA’s unjustified rejection of our matching of a third-party offer, we have taken legal action to enforce our rights,” a WBD spokesperson said in a statement. But the league said WBD “did not match the terms” of its deal with Amazon. While WBD maintains the rights to the NCAA March Madness tournament, along with the MLB, NHL and NASCAR, the NBA remains crucial to the media conglomerate. The cable channel TNT has built a programming slate around the NBA games, most notably the highly rated “Inside the NBA” show featuring Barkley, Ernie Johnson, Kenny Smith and Shaquille O’Neal.
Persons: “, Max, ” Mike Bass, ” Adam Silver, WBD “, Warner, WBD, Barkley, Ernie Johnson, Kenny Smith, Shaquille O’Neal, ”, I’m, ” Barkley Organizations: New, New York CNN, Warner Bros, Discovery, NBA, Amazon, Disney, TNT, Amazon Prime, ABC, ESPN, CNN, Netflix, NCAA, MLB, NHL, NASCAR Locations: New York, New York County, United States, WBD
☆ Warner Bros. Discovery Sues N.B.A. Over Rights Deal
  + stars: | 2024-07-26 | by ( Tania Ganguli | ) www.nytimes.com   time to read: +1 min
Warner Bros. That left Warner Bros. Discovery, a current rights holder, set to lose the league at the end of next season. “Given the N.B.A.’s unjustified rejection of our matching of a third-party offer, we have taken legal action to enforce our rights,” Warner Bros. content.”Mike Bass, a spokesman for the league, said, “Warner Bros. Discovery’s claims are without merit, and our lawyers will address them.”
Persons: “, ” Warner, Mike Bass, “ Warner, Discovery’s, ” Organizations: Warner Bros . Discovery, National Basketball Association, Disney, Comcast, Warner Bros, ” Warner Bros, Discovery, Court, “ Warner Bros Locations: New York
☆ Warner Bros. Discovery is counting on deregulation to unlock media deals — if there's even appetite
  + stars: | 2024-07-26 | by ( Alex Sherman | ) www.cnbc.com   time to read: +10 min
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
☆ Warner Bros. Discovery sues NBA to secure media rights awarded to Amazon
  + stars: | 2024-07-26 | by ( Alex Sherman | ) www.cnbc.com   time to read: +4 min
Warner Bros. Warner Bros. Discovery matching rights when it signed its previous media deal in 2014. Discovery's matching rights agreement is five pages long, and the company believes it has a strong case, the people said. Owning NBA rights is valuable to the health of Warner Bros.
Persons: Max, Discovery's Turner, Discovery, That's, Luis Silberwasser Organizations: Warner Bros . Discovery, National Basketball Association, TNT Sports, TNT, NBA, Disney, Comcast, Warner Bros, Discovery's Turner Sports, Amazon, Amazon Prime, Discovery, Media
☆ WBD is suing the NBA so it can stay in business with the NBA. Yikes.
  + stars: | 2024-07-26 | by ( Peter Kafka | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Discovery boss David Zaslav told investors he'd be ok without NBA games, which his TNT network had been airing for decades. You can read an excellent blow-by-blow of WBD's failed negotiations with the NBA from John Ourand at Puck. One is that WBD somehow wins its suit and ends up forcing the NBA to give it games it would prefer to sell somewhere else. And then there are two other possibilities: One is that WBD doesn't get the games, but extracts some kind of settlement from the NBA for supposedly breaching a contract.
Persons: —, David Zaslav, He's, it's, they've, WBD's, John Ourand, WBD, who's, doesn't, Fox — Organizations: Service, Warner Bros, NBA, TNT, Disney, Comcast, Business, HBO, WBD, Fox, Advertisement College, NFL Locations: Puck
☆ ‘It just sucks’: Charles Barkley lashes out at NBA choosing Amazon over TNT
  + stars: | 2024-07-26 | by ( Liam Reilly | ) edition.cnn.com   time to read: +3 min
I’m not sure TNT ever had a chance.”“TNT matched the money, but the league knows Amazon and these tech companies are the only ones willing to pay for the rights when they double in the future,” Barkley added. It just sucks.”The comments came after the NBA on Wednesday rejected an offer from Warner Bros. Discovery to match Amazon’s $1.8 billion per year bid to carry the league’s games starting with the 2025-26 season. The decision set up a potential legal showdown between the NBA and WBD, the parent company of TNT and CNN, which maintains it has matching rights to any broadcast offer. “These partners will distribute our content across a wide range of platforms and help transform the fan experience over the next decade.”
Persons: Charles Barkley, Barkley, “, I’m, ”, ” Barkley, Ernie Johnson, Kenny Smith, Shaquille O’Neal, WBD, Max, ” Adam Silver Organizations: New, New York CNN, NBA, TNT, Wednesday, Warner Bros, WBD, CNN, TNT Sports ’, Amazon, Disney Locations: New York, United States
☆ NBA and TNT’s parent company prepare for legal clash in sports rights battle for the ages
  + stars: | 2024-07-25 | by ( Oliver Darcy | ) edition.cnn.com   time to read: +5 min
New York CNN —The stage is now officially set for a high-stakes showdown between the NBA and TNT parent company Warner Bros. WBD, the parent company of CNN, paid for matching rights when it struck its current deal with the NBA. In doing so, the NBA argued that WBD’s offer was not a legally valid match since it would also be broadcasting the games on TNT. And it should be noted that the contractual paperwork giving WBD matching rights is pages long and not simple. Zaslav and his deputies believe that they have a robust legal argument and that they are indeed entitled to use their contractual rights to match Amazon’s bid.
Persons: WBD’s, David Zaslav, Adam Silver, Warner, WBD, ”, that’s, “, NBCU, Zaslav, Stephen A, Smith Organizations: New, New York CNN, NBA, TNT, Warner Bros ., Wednesday, Amazon, Warner Bros, CNN, CNBC, NBCUniversal, Disney, ESPN, Big Tech, Apple, Google Locations: New York
☆ Hollywood’s videogame performers to go on strike over AI, pay concerns
  + stars: | 2024-07-25 | by ( ) edition.cnn.com   time to read: +2 min
Reuters —Video game voice actors and motion-capture performers have called a strike over failed labor contract negotiations focused around AI-related protections for workers, bringing about another work stoppage in Hollywood. The SAG-AFTRA has called a strike of the Interactive Media Agreement that covers videogame performers, effective July 26, the union said on Thursday. The Interactive Media Agreement expired in November 2022 and was being extended on a monthly basis during the talks. Apart from AI protections, the SAG-AFTRA’s most pressing issues in the contract negotiations for videogame performers are higher pay, medical treatment and breaks for motion capture performers. The offer presented to the SAG-AFTRA features AI protections that include requiring consent and fair compensation to all performers working under the IMA, Cooling said.
Persons: AFTRA, ”, Audrey Cooling, Cooling Organizations: Reuters, SAG, Interactive, Activision Productions, Electronic Arts, Epic, Disney, Warner Bros, WB, Hollywood, IMA Locations: Hollywood
☆ Stocks on the Move: Nasdaq, Warner Bros, Honeywell and Abbvie
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStocks on the Move: Nasdaq, Warner Bros, Honeywell and AbbvieThe Investment Committee discuss some stocks on the move in today's market.
Organizations: Nasdaq, Warner Bros, Honeywell, Investment
☆ Disney, Hulu and Max launch streaming bundle at up to 38% discount
  + stars: | 2024-07-25 | by ( Liam Reilly | ) edition.cnn.com   time to read: +3 min
Discovery and Disney launched a cross-studio bundle of Disney+, Hulu, and Max on Thursday, bringing the services together at a discounted price as the entertainment giants look to scale their streaming businesses. Disney+ with Hulu is also available for $9.99 a month with ads. Disney already offers its own streaming bundle that includes Disney+, Hulu, and ESPN+ at a bargain rate. Earlier this month, Hallmark announced that it, too, will launch its own standalone streaming platform, Hallmark+, ahead of the holiday season. Disney, WBD and Fox Corp. are also launching the dedicated sports streaming service Venu this fall, which will combine ESPN, TNT, Fox Sports and other assets under a single streaming roof.
Persons: Max, Marvel, ”, David Zaslav, NBC’s Peacock, Peacock, Venu, “ We’ve, Bob Iger, “ Organizations: New, New York CNN, Warner Bros . Discovery, Disney, HBO, ABC, CNN, Food Network, FX, HGTV, Hulu, Pixar, Star Wars, Warner Bros, Netflix, Amazon Prime, ESPN, Verizon, Paramount, Apple, Comcast, Hallmark, Fox Corp, TNT, Fox Sports, ” Disney, CNBC Locations: New York, Hulu
☆ Warner Bros. Discovery sues NBA over matching rights
  + stars: | 2024-07-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarner Bros. Discovery sues NBA over matching rightsCNBC's Julia Boorstin joins Money Movers to discuss the latest on the NBA's signing new 11-year media agreements with Disney, NBC, and Amazon.
Persons: Julia Boorstin Organizations: Warner Bros, Discovery, Movers, Disney, NBC
☆ ‘Inside Out 2’ becomes highest-grossing animated movie of all time
  + stars: | 2024-07-24 | by ( Erika Tulfo | ) edition.cnn.com   time to read: +2 min
That’s after movie sequel “Inside Out 2” became the highest-grossing animated film of all time, raking in $1.46 billion at the global box office and dethroning former record holder “Frozen 2” from 2019, according to Disney on Wednesday. “Inside Out 2” hit theaters last month and passed the $1 billion mark just 19 days after its release — the fastest ever for an animated film. It’s currently on week six of its theatrical run and has already bagged a spot as the 13th highest-grossing film of all time. The excitement surrounding the “Inside Out 2“ release comes after the film industry was met with a slow start to the summer movie season. Discovery) and “Oppenheimer” combined added nearly a billion dollars to the domestic box office, according to Comscore data.
Persons: ”, ’, It’s, Daniel Loria, “ It’s, ” Loria, Paul Dergarabedian, “ Barbie ”, “ Oppenheimer ”, CNN’s Eva Rothenberg Organizations: New, New York CNN, Pixar, Disney, Hollywood, Box, showtime, Comscore, Warner Bros Locations: New York, Europe, Asia, East, United States, Americas, Brazil, Mexico, Colombia, Chile, Japan
☆ NBA rejects Warner Bros. Discovery matching offer in bid to retain games, setting up potential legal showdown
  + stars: | 2024-07-24 | by ( Liam Reilly | ) edition.cnn.com   time to read: +3 min
“Warner Bros. Discovery’s most recent proposal did not match the terms of Amazon Prime Video’s offer and, therefore, we have entered into a long-term arrangement with Amazon,” the NBA said in a statement. Disney will retain the NBA Finals, a Christmas Day game broadcast, Wednesday games on ESPN, Saturday prime time games on ABC and Sunday showcase packages. Finishing out the trio, Amazon’s Prime Video will stream the emirates NBA Cup, SoFi NBA Play-In Tournament, and both Thursday and Friday night games. Amazon will also serve as the league’s strategic partner and third-party global destination for the NBA League Pass. The agreements include more nationally broadcast games than in previous years, the NBA shared, adding that all national games will also be available on broadly distributed steaming services.
Persons: “ Warner, ”, Turner, WBD, ” Adam Silver, Peacock Organizations: New, New York CNN, NBA, Wednesday, Warner Bros, Amazon Prime, “ Warner Bros, Amazon, ESPN, Turner Sports, TNT, TNT Sports ’, Disney, ”, Prime, ABC, NBC, Sunday Locations: New York, United States
☆ N.B.A. Announces Lucrative Rights Deals With Disney, Comcast and Amazon
  + stars: | 2024-07-24 | by ( Tania Ganguli | More About Tania Ganguli | ) www.nytimes.com   time to read: +1 min
The National Basketball Association announced new rights agreements with Disney, Comcast and Amazon on Wednesday in which the companies will collectively pay $77 billion over 11 years, substantially increasing the league’s annual revenue and reflecting the continued importance of live sports programming even as streaming has reconfigured the entertainment industry. In making the announcement, the league said it had rejected Warner Bros. Discovery’s bid to match Amazon’s offer. “Our new arrangement with Amazon supports this goal by complementing the broadcast, cable and streaming packages that are already part of our new Disney and NBCUniversal arrangements. All three partners have also committed substantial resources to promote the league and enhance the fan experience.”The new deals, which include both N.B.A. games, will take effect with the 2025-26 season and are more than two and a half times the average annual value of the league’s current rights agreements.
Organizations: National Basketball Association, Disney, Comcast, Amazon, Warner Bros
☆ NBA says Amazon will be its new media partner, rebuffing Warner Bros. Discovery attempt to match deal
  + stars: | 2024-07-24 | by ( Alex Sherman | ) www.cnbc.com   time to read: +3 min
☆ CNBC Daily Open: Tech rebounds, CrowdStrike tumbles, Wiz rejects Google
  + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wiz walks awayCloud security startup Wiz rejected a $23 billion acquisition offer from Google, opting instead to pursue an IPO. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.
Persons: Kamala Harris, Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Wiz, Hai Precision Industry —, Hong Organizations: New York Stock Exchange, CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Google, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, CSI, U.S Locations: New York City, U.S, Asia, Pacific, Taiwan
☆ Battle over NBA rights brewing as Warner Bros. Discovery matches Amazon's bid
  + stars: | 2024-07-23 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBattle over NBA rights brewing as Warner Bros. Discovery matches Amazon's bidCNBC"S David Faber and Jim Cramer discuss the brewing legal battle over NBA rights as Warner Bros. Discovery matches Amazon's bid.
Persons: David Faber, Jim Cramer Organizations: Warner Bros, CNBC
☆ CNBC Daily Open: Wall Street looks past political uncertainty
  + stars: | 2024-07-23 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tech reboundThe S&P 500 posted its biggest gain since June 5, recovering from its worst weekly slide since April, as tech stocks rebounded led by Nvidia. The move allows Warner Bros. to retain some of its NBA broadcasting rights. However, the NBA may not want Warner Bros. as a media rights partner and could reject the company's matching rights, which could lead to a legal tussle.
Persons: Russell, CrowdStrike, George Kurtz, Mark Green, Andrew Garbarino, Berkshire Hathaway, Walter Cho, Joe Biden's, Kamala Harris Organizations: CNBC, Tech, Nvidia, Nasdaq, Dow Jones Industrial, Homeland Security, Microsoft, Delta Air Lines, Buffett, Warren, Bank of America, Apple, Boeing, Korean Air, Farnborough, NBA, Warner Bros, Discovery, National Basketball Association, Amazon Prime, Trump Locations: U.S, Berkshire
☆ A storm chaser on what 'Twisters' gets right and wrong
  + stars: | 2024-07-23 | by ( Jenny Mcgrath | ) www.businessinsider.com   time to read: +6 min
Jen Walton, a storm chaser from Denver, has already seen the new film twice and loved many of the nods to the original movie, the accuracy of the tornado science, and the appreciation for storm chasers. But eventually, she got over her fear and has been chasing storms for the last six years. AdvertisementIt mostly happens in Texas and Oklahoma, where storm chasing is the most popular, she said. Many may not remember the 2013 El Reno storm when four storm chasers were killed, she said. That's why Girls Who Chase, the initiative Walton started to support women in STEM fields, offers Storm Chasing 101.
Persons: —, Jen Walton, Walton wasn't, Daisy Edgar, Jones, Tyler, Glen Powell, Melinda Sue Gordon, Amblin Entertainment Walton, Glen, Tyler Owens, Walton, Sue Ogrocki, Owens, Katie Carter, she's, Chase Organizations: Service, Business, Universal Pictures, Warner Bros . Pictures, Amblin Entertainment, YouTube, Storm, El Locations: Denver, Oklahoma, Texas, El Reno
☆ Warner Bros. Discovery notifies NBA it will match Amazon’s $1.8 billion offer to carry league games
  + stars: | 2024-07-22 | by ( Liam Reilly | ) edition.cnn.com   time to read: +5 min
A person familiar with the matter confirmed WBD’s matching offer Monday was for Amazon’s bid, which includes regular season and playoff games. It’s unclear if the NBA will accept or reject WBD’s offer, which the league intended for a streaming partner. The showdown over the NBA rights comes as legacy media companies struggle to retain audiences, with viewers opting to leave cable bundles behind in favor of cheaper, on-demand content. The cable channel TNT has built a programming slate around the NBA games, most notably the highly rated “Inside the NBA” show featuring Barkley, Ernie Johnson, Kenny Smith and Shaquille O’Neal. Asked last week about the fate of WBD’s broadcast rights, NBA Commissioner Adam Silver told reporters, “I don’t know yet.”“Much of it is outside my control,” he added.
Persons: ’ signoff, WBD, “ We’ve, ”, Turner Sports ’, Charles Barkley, ” Barkley, “, I’m, Barkley, Ernie Johnson, Kenny Smith, Shaquille O’Neal, Adam Silver Organizations: New, New York CNN, Warner Bros, Discovery, TNT Sports, NBA, Disney, NBC, Amazon Prime, NBA’s, Governors, TNT, Amazon, Turner Sports, ESPN, Football, Netflix, NCAA, MLB, NHL, NASCAR Locations: New York
☆ Warner Bros. Discovery tells NBA it intends to match Amazon's media rights package
  + stars: | 2024-07-22 | by ( Alex Sherman | ) www.cnbc.com   time to read: +5 min
Warner Bros. Warner Bros. Warner Bros. Warner Bros. Warner Bros.
Persons: David Zaslav, NBCUniversal Organizations: Warner Bros, Discovery, National Basketball Association, Amazon Prime, NBA, Warner Bros . Discovery, TNT, Amazon, Disney, Comcast, CNBC
☆ Warner Bros. Discovery Says It Has Matched a Rival Bid for N.B.A. TV Deal
  + stars: | 2024-07-22 | by ( Tania Ganguli | More About Tania Ganguli | ) www.nytimes.com   time to read: +1 min
Warner Bros. Discovery said on Monday that it had matched a rival offer to air N.B.A. games, a move aimed at allowing the company to keep the lucrative broadcast rights it has held for decades. “We have reviewed the offers and matched one of them,” Warner Bros. Discovery did not identify which broadcast package it matched, but said its current contract allowed it to keep the rights if it matched competing offers.
Persons: Discovery, “, Warner, “ We’ve, ” Organizations: Warner Bros, Discovery Locations: Amazon
☆ Verizon misses quarterly revenue estimates on slow phone upgrades
  + stars: | 2024-07-22 | by ( ) www.cnbc.com   time to read: +2 min
Verizon Communications missed quarterly revenue estimates on Monday due to slow phone upgrades in the United States, taking the shine off strong growth in wireless subscribers and sending shares of the telecom firm down 3.4% before the bell. Verizon reported second-quarter revenue of $32.8 billion, compared with analysts' average estimate of $33.06 billion, according to LSEG data. Verizon said it added 148,000 net monthly bill-paying wireless phone subscribers from April to June, above analysts' average estimate of 127,870 additions, according to Visible Alpha. It even raised the price of some older plans in March to prompt customers to switch to the new plans. The company's consumer business reported net losses of 8,000 wireless retail postpaid phone subscribers in the latest quarter, compared with 136,000 losses a year earlier.
Persons: Warner Bros Discovery's Max Organizations: Verizon Communications, Verizon, Apple, IDC, Mobile, Netflix, Warner Bros Discovery's Locations: United States
☆ ‘Barbie’ Was Supposed to Change Hollywood. Many See ‘No Effect.’
  + stars: | 2024-07-22 | by ( Nicole Sperling | ) www.nytimes.com   time to read: +1 min
It was the top box office film of the year, earning $1.4 billion worldwide, and it became Warner Bros.’s highest-grossing film ever, outpacing both “Dark Knight” movies, “Wonder Woman” and every chapter in the “Harry Potter” franchise. It was a DayGlo-pink rebuttal to decades of conventional Hollywood thinking, and its success seemed to herald a new paradigm for the film industry. Movies written and directed by women and focused on female protagonists could attract enormous audiences to multiplexes around the world. Yet in the 12 months since the movie’s release, little has changed in Hollywood. The box office is down 17 percent from last year at this time, and studios spooked by a fickle audience (yes to “Twisters,” no to “Fall Guy”) are again questioning the reliability of the theatrical marketplace.
Persons: “ Barbie ”, Harry Potter ”, Guy ”, Barbie ”, Greta Gerwig, Margot Robbie Organizations: Warner Bros, Films, University of Southern California’s, Hollywood Locations: Hollywood
☆ Warner Bros. Discovery offers to match Amazon offer for NBA rights
  + stars: | 2024-07-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarner Bros. Discovery offers to match Amazon offer for NBA rightsCNBC's Alex Sherman to report on Warner Bros Discovery's offer to match Amazon's offer for NBA rights.
Persons: Alex Sherman Organizations: Warner Bros . Discovery, NBA, Warner Bros
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