
Warner Bros. Discovery stock on Tuesday fell nearly to depths not seen since the Great Recessionary abyss of 2009 following a Wall Street Journal report that Comcast and NBCUniversal are preparing an aggressive bid to poach TNT’s NBA television rights.
Warner stock cratered nearly 9% as word came that Comcast is willing to pay the NBA $2.5 billion a season to broadcast games on NBC and stream them on Peacock in primetime two nights a week during the pro-hoops season.