Warner Bros. Discovery 'hopeful' for NBA deal as earnings miss estimates amid linear TV struggles

Warner Bros. Discovery expressed optimism about securing a new NBA media rights deal, despite recent earnings falling short of expectations due to challenges in the linear TV sector. The company reported a revenue of $9.96 billion, below the anticipated $10.27 billion, and saw a decline in network advertising revenue by 11%. However, there were positive developments in their direct-to-consumer streaming service, which added 2 million Max subscribers and turned profitable this quarter.