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 has settled its breach of contract lawsuit against the National Basketball Association, an agreement that will keep the company in business with the league for at least the next decade,

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.