On Monday,Warner Bros. Discovery Inc(NASDAQ:WBD) and theNational Basketball Associationannounced they have extended their partnership for another 11 years, strengthening their long-standing relationship.

The renewed agreement will enhance NBA content distribution and expand the collaboration across Warner Bros. Discovery's digital sports platforms, including TNT Sports, Bleacher Report, and House of Highlights. Warner Bros. Discovery stock gained on the news.

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The new deal includes a global licensing arrangement that allows TNT Sports and its affiliates to produce and distribute NBA...