TNT Sports Faces Uncertainty Amid Warner Bros. Discovery Split

WBD’s current debt. Global Networks will hold up to a 20% stake in Streaming & Studios, and it will use earnings from that holding to pay off the debt.

During a call with Wall Street analysts on Monday, David Zaslav expressed that the decision to split Warner Bros. Discovery was based on the belief that each company can thrive better on its own. Sports programming, including TNT Sports, is currently part of the Global Networks business. However, there are uncertainties about how sports content will fit into the broader picture, especially with events being shown on HBO Max.

While TNT Sports has found a home in the Global Networks business, there is ambiguity about how it will fit into the new structure. WBD president and CEO, David Zaslav, mentioned that sports hasn’t been a significant driver for streaming consumption on Max, showing some skepticism towards the company’s live sports rights.

Despite an initial positive response from investors, with WBD shares rising more than 10% in early Monday trading, the stock eventually closed down 3% at $9.53 per share. This split comes amidst significant changes happening within the sports portfolio, including securing additional College Football Playoff sublicensing rights from ESPN.

One of WBD’s recent highlights was its coverage of the French Open, which included a thrilling men’s championship match between Jannik Sinner and Carlos Alcaraz. The network’s success extended with its European rights for the French Open being renewed through at least 2030. During the tournament, WBD saw an increase in streaming audiences across several key European territories, showcasing the growth of its sports content viewership.