Business
WARNER BROS. DISCOVERY AND CHARTER COMMUNICATIONS ANNOUNCE EARLY RENEWAL AGREEMENT THAT FURTHER REIMAGINES THE FUTURE OF VIDEO
Partnership Between Two of the Largest Media and Distribution Companies Combines Linear Video and Direct-to-Consumer Streaming Services for Maximum Customer
About this update from Warner Bros. Discovery, Inc. - Series A
[{"type":"text","content":"Partnership Between Two of the Largest Media and Distribution Companies Combines Linear Video and Direct-to-Consumer Streaming Services for Maximum Customer Value \nNEW YORK and STAMFORD, Conn., Sept. 12, 2024 /PRNewswire/ -- Warner Bros. Discovery Inc. (NASDAQ: WBD) and Charter Communications, Inc. (NASDAQ: CHTR) today announced a groundbreaking, multi-year distribution partnership that re-imagines the future of video by fully integrating linear video and streaming services. With this early renewal, the agreement further evolves the video ecosystem with more value and flexibility in video bundles, deeper libraries and more choice to better align with customers' current viewing preferences. \n\n \n \n \n \n \n \n\n \n\"This innovative partnership with Charter recognizes the value of our linear content and the investments we've made in premium original programming, sports and news, while also significantly expanding the distribution of Max's ad-supported service to Spectrum's millions of Select customers,\" said David Zaslav, President and CEO of Warner Bros. Discovery. \"We did this agreement together nearly a year early to set a framework for the future and to provide more consumers access to our unparalleled content offering while giving the industry more resilience as it evolves. We are pleased this achieves each of our company's objectives.\"\nCharter, the industry leader in customer package flexibility, hybrid direct-to-consumer (DTC) linear models and soon-to-launch DTC to broadband distribution, has joined forces with WBD, the global leader in premium original programming, film, news and sports. This transformational agreement now provides the premium service of Max (Ad Lite), including all HBO and Max content as well as Discovery+, across all Spectrum TV Select packages at no extra charge to customers, through a mutually beneficial new arrangement between the two companies. The addition of Max and Discovery+ represents a game-changer for Spectrum's bundle proposition, which will offer nearly $60 per month of retail DTC value included when added to Disney+, ESPN+, Paramount+, AMC+, BET+ and Vix. \n\"This strategic relationship with WBD further evolves the linear and broadband video distribution model and supports Spectrum's efforts to provide flexible packages, whether through hybrid linear-DTC full video relationships, s...