Warner Bros. Discovery Faces Investor Lawsuit Over Loss of NBA Media Rights

Shareholders allege misleading statements and financial fallout after the company lost its decades-long NBA broadcasting deal.

A class-action lawsuit has been filed by Warner Bros. Discovery investors, claiming significant financial losses following the loss of NBA media rights.
The lawsuit accuses CEO David Zaslav and CFO Gunnar Wiedenfels of making misleading statements about the company's prospects of retaining the NBA deal.
Warner Bros. Discovery took a $9.1 billion write-down in August, reflecting the diminished value of its TV networks after losing the NBA contract.
The NBA's new 11-year, $77 billion media rights deal was awarded to NBCUniversal, Amazon Prime Video, and Disney, starting with the 2025–2026 season.
As part of a recent settlement with the NBA, Warner Bros. Discovery will continue producing 'Inside the NBA,' which will now air on ESPN and ABC.