Warner Bros. Discovery sued the NBA in July, claiming the league failed to allow the media company to use its so-called matching rights on a package of live games.

Warner Bros Discovery said on Monday it would have access to coveted National Basketball Association content for 11 more years under a legal settlement with the league, sending shares of the media company more than 5% higher.

After losing broadcast rights to National Basketball Association games in July, Warner Bros. Discovery struck a new 11-year deal with the league that will see the media company’s popular Inside the NBA show move to ESPN in exchange for more limited content rights.

Warners gets international games, ESPN lands college games, while the NBA ends legal action and 'Inside the NBA' goes to ESPN and ABC. The NBA and Warner Bros. Discovery have unveiled their post-lawsuit settlement and the gains for both sides from renewing their agreement with an 11-year deal.

A deal gives the company access to NBA content and rights in parts of Northern Europe and Latin America. Turner will license “Inside the NBA” to ESPN.

The National Basketball Association and Warner Bros. Discovery have reached an agreement that will extend their long-standing media partnership an additional 11 years.

Warner Bros. Discovery just took care of a very visible issue that had disturbed the market. Find out why WBD stock is a Buy.

Warner Bros Discovery and the National Basketball Association have agreed to extend their partnership for 11 more years, resolving recent disputes tied to the NBA's media agreements, the entertainment giant said on Monday.