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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

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Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

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Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

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Meet a 21-year-old community college student who's going to China as the first American woman welder in the trades Olympics
Finance

Warner Bros Discovery reportedly sues NBA after $77 billion TV and streaming deals with NBC, ESPN and Amazon

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
Down Arrow Button Icon
July 25, 2024, 11:47 AM ET
The NBA has been on TNT for 40 years.
The NBA has been on TNT for 40 years. Brandon Todd/NBAE via Getty Images

Warner Bros. Discovery is reportedly suing the NBA, after the league unveiled a $77 billion deal with NBC, ESPN, and Amazon for streaming and TV rights for the next 11 years.

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CNBC initially reported the network’s intention to file a legal block to the rights deal. Reuters later confirmed the plans. Warner Bros. Discovery (WBD) did not immediately reply to a request for information.

At the heart of the dispute, according to the reports, is WBD’s matching rights for competing bids. The new deal with Amazon, NBC, and ESPN will end a 40-year partnership with the Warner Bros. holding.

TNT will continue to air NBA games over the next year, while the two once-close parties argue the case in court. (Games will also air, for now, on the Max streaming service.)

WBD has leaned heavily on its NBA partnership in promoting the TNT network and taking a partner to court could make other leagues hesitant to sign deals with the company, analysts warn. Warner, though, apparently feels its matching offer was on par with Amazon and the other companies, which would have required the NBA to stay with its current partner.

“We have matched the Amazon offer, as we have a contractual right to do, and do not believe the NBA can reject it,” Warner said in a statement Wednesday to Variety. “In doing so, they are rejecting the many fans who continue to show their unwavering support for our best-in-class coverage, delivered through the full combined reach of WBD’s video-first distribution platforms—including TNT, home to our four-decade partnership with the league, and Max, our leading streaming service. We think they have grossly misinterpreted our contractual rights with respect to the 2025–26 season and beyond, and we will take appropriate action.”

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About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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