Charter Communications bundles Max and Discovery+ into TV packages

In a strategic move, Charter Communications and Warner Bros Discovery announced that Max and Discovery + streaming services will be available to Charter customers at no additional cost. This decision is expected to positively affect the user growth of the cable and broadband company. Warner Bros Discovery shares rose about 7% in morning trading, while Charter shares rose more than 2%. As part of an early extension of their multi-year deal, the two companies said the ad-supported version of Max, which includes all HBO and Discovery+ content, will be offered in all Spectrum TV Select packages. Charter is the largest provider of pay television in the United States. Max and Discovery + will thus be part of the Spectrum offering, which already includes streaming platforms such as Disney +, ESPN + and Paramount +. As part of the deal, Spectrum will continue to carry Warner Bros Discovery’s TV network portfolio, which includes sports channel TNT, CNN, Food Network and Discovery. However, the media and entertainment giant’s TV business is struggling with challenges such as consumers turning away from cable subscriptions and a weak recovery in the advertising market. Financial details of the deal were not disclosed by the companies. Investors’ concerns increased after Warner Bros. Discovery failed to renew the rights to broadcast National Basketball Association (NBA) games. The media company sued the NBA in New York after the league rejected the offer. Charter won several concessions from Walt Disney last year. It negotiated a small programming package and received rights to distribute Disney+, Hulu and ESPN+ to Spectrum TV customers.