Warner Bros. Discovery, led by CEO David Zaslav, faces a critical decision regarding its partnership with the NBA. Zaslav's past remarks criticizing the NBA have now put the company in a challenging position, with talks ongoing to secure a deal. The company's recent financial performance for Q1 2024 fell short of expectations, with revenue at $9.96B (below the expected $10.27B) and a loss per share of $0.40 (higher than the estimated loss of $0.22). Despite challenges in TV ad sales and studio performance, Zaslav remains hopeful about retaining NBA media rights on TNT, emphasizing the company's matching rights for third-party offers.
Warner Bros. Discovery president and CEO David Zaslav said he is now “hopeful” of keeping the company's NBA content. Zaslav did not detail where WBD stands in the negotiations, but confirmed the existing rights to match rival offers and sought to strike a more optimistic tone.
From @TheAthletic: Warner Bros. Discovery CEO David Zaslav remains "hopeful" the company could still retain a portion of the NBA’s media rights on TNT. https://t.co/dz8nwYXe3i
Warner Bros. Discovery posts $966M loss, hurt by slumping ad sales and Hollywood strikes https://t.co/31NDHqGxVu https://t.co/xUIbmuhzV7
Warner Bros. Discovery reported sales and profit that fell short of analysts’ expectations as the entertainment giant wrestled with lower TV ad sales and poor performance of video games. Geetha Ranganathan has more https://t.co/EJYBsqIgiK https://t.co/R0qR5HyPuy
Warner Bros. Discovery reports sales and profit that missed expectations on lower TV ad sales and poor performance at its movie studios https://t.co/1LsrRd49SV
No NBA deal yet for Warner Bros. Discovery, but David Zaslav is 'hopeful' https://t.co/zjCnmHCB21
Warner Bros. Discovery CEO David Zaslav says little about NBA on earnings call but what he does say re: matching rights is intriguing. https://t.co/5qmamHLsIy via @WSJ
Warner Bros. Discovery CEO David Zaslav said the company has the ability to match third-party offers for NBA packages https://t.co/4VFXvFgjbD
Warner Bros. Discovery 'hopeful' for NBA deal as earnings miss estimates amid linear TV struggles https://t.co/L77Jkrwh7d by @allie_canal
Warner Bros Discovery misses estimates for first-quarter revenue https://t.co/n32IqLNAjy
$WBD (-3.8% pre) Warner Bros. Discovery misses earnings estimates amid greater linear TV struggles https://t.co/zZIhMoiZhi
Warner Bros. Discovery Narrows Q1 Net Loss 10% to $966 Million, But Studio Profit Drops 70% https://t.co/LpI0oCf7LY
Warner Discovery CEO David Zaslav keeps mum on TNT-NBA talks. "We are in continuing conversations with them now and we are hopeful we will be able to reach an agreement that maxis sense for both sides," he says, adding it has matching rights for third party offers" which would…
Warner Bros. Discovery $WBD earnings, revenue miss consensus estimates https://t.co/InCis3DjpW https://t.co/owqibgffli
$WBD Earnings: - Q1 total revenues were $9,958 million. Revenues decreased 7% ex-FX compared to the prior year quarter. - Net loss available to Warner Bros. Discovery, Inc. was $(966) million, and includes $1,879 million of pre-tax acquisition related amortization of… https://t.co/cDxyhpizwP
Warner Bros Discovery misses estimates for quarterly revenue https://t.co/0x9ZrMUAgd https://t.co/L9K4aaIZF2
Warner Bros. Discovery misses earnings estimates amid greater linear TV struggles https://t.co/zKIKc8Qp1u by @allie_canal
Warner Bros. Discovery misses first-quarter estimates https://t.co/rNvv3RjqNV
Warner Bros. Discovery’s stock falls after company posts wider-than-expected loss and revenue that lags consensus https://t.co/bhf47yR4LG
Warner Bros. Discovery double miss: CEO: "We delivered meaningful growth in our streaming business with a nice acceleration in ad sales, generating nearly $90 million in positive EBITDA for the quarter" $WBD: -1.9% PM https://t.co/QaZR4Aq5Iu
Warner Bros. Discovery Misses Q1 Expectations, TV Ad Sales Down 11% as Streaming Revenue Flat https://t.co/Tw7SPkbn4c via @variety
Warner Bros. Discovery Misses Q1 Expectations, TV Ad Sales Down 11% as Streaming Revenue Flat https://t.co/wDCa8qszRJ
⚠️ WARNER BROS DISCOVERY MISSES ESTIMATES FOR QUARTERLY REVENUE Full Story → https://t.co/4kthzLVmm1 Warner Bros Discovery missed Wall Street estimates for first-quarter revenue on Thursday, weighed down by a weak advertising market and strike-related delays at its studio…
$WBD | Warner Bros Discovery Q1 24 Earnings: - Revenue: $9.96B (exp $10.27B) - Loss/Share: $0.40 (exp Loss $0.22) - Total Subscribers: 99.60M (exp 98.87M)
$WBD | Warner Bros. Discovery Q1 Earnings: - GAAP EPS/Loss $0.40 (Est/Loss $0.27)🔴 - Sales $9.958B (Est. $10.231B)🔴
Two years ago, Warner Bros. Discovery CEO David Zaslav dunked on the NBA. His words zinged the ears of Adam Silver and league executives. And it's left Zaslav and TNT Sports fighting for their NBA lives, writes @AndrewMarchand. https://t.co/dFEUVcaA9w https://t.co/znEjh965Be
From @TheAthletic: Does TNT need the NBA? In 2022, Warner Bros. Discovery CEO David Zaslav said the answer was no. Now, the comments have left the company fighting for its life with the league as a decision must be made. https://t.co/4I4losuEvX