Comcast, Warner Bros. Discovery Ink Multi-Year Deal, Including Max Bundling Rights

Dec 9, 2024, 02:59 PM

Comcast Corp. and Warner Bros. Discovery Inc. have finalized a multi-year distribution agreement that encompasses both U.S. and international markets. The deal includes bundling rights for the ad-supported version of Max in the U.S., and Sky will offer HBO's Harry Potter series to its customers in the UK and Ireland. Comcast's Sky has also dropped its lawsuit against Warner Bros. over a new 'Harry Potter' TV series, resolving a legal dispute. The agreement locks in higher fees for Warner Bros. Discovery's networks, despite the company's decision to drop NBA games from its U.S. lineup starting in the 2025-26 season, which has led to lower carriage fees for TNT and TBS. Comcast's top executive, Dave Watson, described the deal as a 'huge win' that 'checked a lot of boxes for both' companies. Following the announcement, Guggenheim rated Warner Bros. Discovery as a buy.