Warner Bros. Discovery (WBD) pops by nearly 10% after striking a distribution deal with Charter Communication (CHTR) — which owns cable provider Spectrum...
) — which owns cable provider Spectrum — that will include Max and Discovery+ streaming packages in exchange for higher fees paid to WBD.It's a top performer in the S and P 500 the media giant signed a new distribution agreement with Charter Alexander Canal is here with the details.It's very similar to what we saw between Charter and Disney last year, which really set a precedent when it comes to how these deals will be done moving forward.
It's found itself in a very difficult position when it comes to the future of this segment, in particular, it's currently in a legal battle with the NBA over the loss of those media rights.A lot of analysts were really worried that that meant the fees that charter would be paying to carry TNT would decrease significantly.But according to the Wall Street Journal, those fees are going to remain flat, which is a huge deal.
He added that there that, that even though basic cable is declining, it's still a great business for them. So that's something to watch as Warner Brothers reports, third quarter earnings in November, but overall investors clearly very happy and that this charter agreement went through and we didn't see a significant decline in those fees.The Nasdaq cleared its 50-day amid fresh bullish signals. Nvidia led stocks flashing buy signals. Adobe sold off late on guidance.
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