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.

Charter, 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.

This long-term agreement favorably extends Spectrum's carriage of WBD's linear network portfolio, including TNT, CNN, Food Network, HGTV, TLC, Discovery, TBS, Adult Swim and Investigation Discovery, backed by the largest video distributor serving the biggest media markets. The deal also establishes Max as a "preferred partner" for Spectrum when marketing and selling DTC apps and bundles to broadband subscribers, creating a significant opportunity that will reach Charter's full video and broadband customer base. Spectrum plans for a full deployment of its DTC distribution to broadband customers in 2025, following the 2024 deployment of its DTC inclusion and upgrade offers. Spectrum's DTC distribution plan will include separate pricing, packaging and billing capabilities for DTC video services to broadband customers.

Financial terms of the agreement were not disclosed.

Read the full press release here.

Warner Bros. Discovery