Warner Bros. Discovery Investors Sue Over ‘Significant Losses and Damages’ Caused by NBA Rights Fallout

The suit filed Monday is on behalf of all shareholders who acquired WBD securities between Feb. 23 and Aug. 7

Streaming-Theatrical- David Zaslav attends HBO's "House Of The Dragon" Season 2 Premiere at Hammerstein Ballroom on June 03, 2024 in New York City.
David Zaslav (Credit: Jamie McCarthy/Getty Images)

Warner Bros. Discovery and CEO David Zaslav were sued Monday by investors who experienced “significant losses and damages” caused by fallout from the studio’s rights negotiations with the National Basketball Association.

The media giant lost the rights to NBA games in July: The new deal with ESPN, NBCUniversal and Prime Video will start with the 2025–2026 season. In June, the Wall Street Journal valued the multi-studio deal at $76 billion.

The suit filed Monday is on behalf of all shareholders who acquired WBD securities between Feb. 23 and Aug. 7. WBD chief financial officer Gunnar Wiedenfels was also named as a defendant.

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