A tough bounce — the loss of rights to show NBA games — likely crimped Warner Bros. Discovery ‘s ability to attract advertising dollars during the most recent TV “ upfront ” market, with the company declining to reveal its level of ad commitments despite most of its rivals having done so.

The company acknowledged Thursday in a letter to shareholders that “negotiations for the U.S. upfront are largely complete,” noting that it “enjoyed strong pricing and resilient demand for sports programming, and firm pricing for general entertainment.” But there was no guidance for whether the volume of ad commitments it secured was greater than, equal to, or lower than what it nabbed in 2024. In the past, such an absence of disclosure has indicated a downturn in upfront commitments.

Warner was p

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