Warner Bros. Discovery is expected to reveal its future strategies by Christmas; Formula One executives are in talks regarding the Apple streaming partnership; and Sinclair CEO Chris Ripley raises antitrust issues related to the dispute between Disney and YouTube TV. Additional updates include stories on Paramount and Professional Bull Riders, the FanDuel Sports Network, Kris Budden, and NBA regional simulcasts.
Warner Bros. Discovery Plans Announcement by Christmas
Warner Bros. Discovery is set to outline its future direction by Christmas. Reports suggest options could include selling all or part of the company, as noted by Alex Sherman from CNBC. There has been “unsolicited interest from multiple parties” for both the entire company and the newly spun Warner Bros. assets, which would include streaming and studio elements. If this spin-off occurs, Discovery Global is expected to hold an Upfront event in May, including Warner Bros. in an advertising agreement.
Paramount is reportedly offering $23.50 per share for the complete acquisition of Warner Bros. Discovery, believing this is “in the best interest of shareholders.” According to David Faber from CNBC, Paramount’s proposal consists of 80% cash and 20% equity, outlined in multiple letters sent to WBD.
WBD has requested that Paramount sign a non-disclosure agreement to prevent a hostile bid directly to shareholders, in exchange for access to specific data. However, Paramount has yet to agree to the NDA, keeping its options flexible, as reported by sources.
Additionally, Comcast and Netflix are reportedly interested in acquiring Warner Bros. streaming and studio assets, which are not expected to include the majority of WBD’s existing debt. After the spin-off, Discovery Global is set to retain a 20% stake in the business, which future CEO Gunnar Wiedenfels indicated could potentially be sold before the spin-off is finalized.
Chang Discusses F1 and Apple Agreement
As Formula One gets ready to transition away from traditional television with a new five-year media rights agreement with Apple, Liberty Media’s president and CEO Derek Chang emphasized that traditional definitions of reach are outdated. During an earnings call, he stated that the traditional metrics do not adequately reflect how a company like Apple can engage diverse audiences in various ways.
Chang also highlighted the significance of the five-year duration of the contract, noting the “years of investment” Apple could provide. He expressed confidence that the product’s quality in the fifth year will be comparable to the first year. Formula One president Stefano Domenicali mentioned that while there are “minor” risks involved, the potential benefits are substantial, as Apple is known for introducing innovative ideas that will enhance the sport’s relevance.
Ripley Addresses Antitrust Concerns in Disney-YouTube TV Conflict
During a quarterly earnings call, Sinclair Broadcast Group CEO Chris Ripley pointed out that the ongoing conflict between Disney and YouTube TV poses antitrust issues for local broadcasters. Currently, all ABC affiliates, including 40 owned by Sinclair, are blacked out on YouTube TV as a result of Disney’s decision to withhold programming during negotiations.
Ripley argued that Disney, ABC, and other networks should not control whether Sinclair can provide content to YouTube TV, Hulu, or Fubo—especially since Disney owns those services as well. Ripley mentioned discussions with antitrust regulators and the SEC, noting that the FCC initiated an investigation into harmful network affiliation practices earlier this year.
Additional Updates: Paramount-PBR, FDSN, Kris Budden, NBA Simulcasts
- Paramount has finalized a five-year media rights agreement with Professional Bull Riders, becoming the streaming destination for the “Unleash The Beast” tour starting in December. This marks the third contract TKO Group Holdings has signed with Paramount since its formation from a merger.
- The Cincinnati Reds, Kansas City Royals, and Milwaukee Brewers have extended their media rights deals with Main Street Sports Group, ensuring they will remain on FanDuel Sports Network RSNs for the 2026 season.
- ESPN reporter Kris Budden has made her debut as the lead men’s college basketball sideline reporter, working primarily with play-by-play announcer Dan Shulman and analyst Jay Bilas.
- The Atlanta Hawks are partnering with Gray Media’s WANF-TV, Peachtree Sports Network, and FanDuel Sports Network to broadcast 11 games for free on over-the-air television in six locations across Georgia. Likewise, the Charlotte Hornets will collaborate with Cox-owned WSOC-TV to simulcast 12 games throughout the year.
