Warner Bros. Discovery (WBD) Stock Plummets After NBA Deal Rejection: What Investors Need to Know
Are you looking for the latest news on Warner Bros. Discovery stock? Look no further! Warner Bros. Discovery stock is facing a major setback today after the NBA turned down their $1.8 billion per year offer to maintain their rights deal. Instead, the NBA has opted for a deal with Disney, Comcast’s NBC, and Amazon Prime Video, which is set to bring in a whopping $76 billion over the next 11 years.
Despite Warner Bros. Discovery’s attempts to match the deal, the NBA found their offer insufficient. This rejection has caused WBD stock to drop by 5.8% as of Thursday morning, with over 8 million shares changing hands.
Investors, pay attention! This news could have a significant impact on your portfolio. Stay informed with the latest stock market updates by checking out our coverage on Chipotle (CMG), 2U (TWOU), and Concentra Group (CON) stocks.
In conclusion, the NBA’s rejection of Warner Bros. Discovery’s offer has sent shockwaves through the stock market, resulting in a sharp decline in WBD stock. Stay tuned for more updates on this developing story and make sure to stay informed to protect your investments.