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Warner Bros. Discovery (WBD) is reportedly at risk of losing NBA media rights to competitor NBCUniversal. Yahoo Finance's Alexandra Canal reports more on the story and what it could mean for Warner Bros. Discovery's future.

In the company's earnings call, CEO David Zaslav said, "We've enjoyed a strong partnership with the NBA for almost four decades. We're in continuing conversations with them now, and we're hopeful that we'll be able to reach an agreement that makes sense for both sides."

NBCUniversal is reportedly willing to offer more than double what Warner Bros. Discovery currently pays for the rights.

Zaslav added that the company is able to match third-party offers before the NBA enters into any agreements and is prepared for the potential outcomes that could result in the process.

Warner Bros. Discovery is currently facing a decline in its linear networks, with advertising revenue falling 11% year-over-year in the quarter. The company could face detrimental outcomes if NBC outbids it for NBA rights.

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This post was written by Melanie Riehl