01:55 PM EST, 11/18/2024 (MT Newswires) -- Warner Bros. Discovery ( WBD ) and the National Basketball Association said Monday they have resolved all disputes regarding the league's recent media deals and that they agreed to extend their media partnership by another 11 years.

Under the terms of the extended deal, the media and entertainment giant's TNT Sports and its brands will receive a global license to produce and distribute NBA content across its platforms. This includes "expanded" content and highlight rights for sports digital brands Bleacher Report and House of Highlights, according to a joint statement.

Earlier this year, Warner Bros. sued the NBA for allegedly failing to allow the company to use its matching rights for live games, CNBC reported. The NBA selected Walt Disney ( DIS ) , Comcast's ( CMCSA ) NBCUniversal and Amazon ( AMZN ) Prime Video to be its US distributors of live games for 11 years starting next season, according to the report.

Warner Bros. has secured rights to telecast live NBA games in the Nordics, along with Poland and Latin America for the next 11 years, the parties said Monday.

The company and Disney's ( DIS ) ESPN ( DIS ) have agreed to enter a partnership whereby TNT Sports will continue to fully produce the "Inside the NBA" show, which will be distributed on ESPN ( DIS ) and ABC starting with the 2025-26 season. TNT Sports will televise an exclusive slate of Big 12 football and men's basketball beginning with the 2025 season, according to the joint statement.

"Together these agreements ensure fans will continue to enjoy TNT's Inside the NBA and create tremendous value for our entire portfolio as we accelerate the growth of TNT Sports, Bleacher Report, House of Highlights and our global sports business," Warner Bros. Chief Executive David Zaslav said.

The company's shares were up 2.8% in Monday afternoon trade.

"We look forward to building on our longstanding partnership with TNT Sports and working together to promote NBA content across key WBD and NBA platforms," said NBA Commissioner Adam Silver.

The agreement continues the NBA Digital partnership between TNT Sports and the NBA for five seasons that allows the league to engage Warner Bros. to provide promotion and various services, including production, content development and sales operations, the parties said.

Earlier this month, Warner Bros. reported the strongest quarterly gain in subscribers for its Max streaming platform in the September period alongside surprise net income, even as revenue in the three months declined from a year earlier, dented by a weaker box office.

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