Warner Bros. Discovery Inc (NASDAQ:WBD) and Charter Communications, Inc (NASDAQ:CHTR) announced a multi-year distribution partnership to integrate linear video and streaming services. Both the company stock prices gained after the revelation.

Now, Warner Bros. Discovery's premium Max (Ad Lite) service, including all HBO and Max content and Discovery+, will be available at no extra charge to customers across all Charter Communications' Spectrum TV Select packages.

Charter Communications will now have to pay a higher fee to carry Warner Bros. Discovery channels like CNN, Food Network, and TBS, the Wall Street Journal cites the companies.

Also Read: Warner Bros. Discovery Stock Drops On Worse-Than-Expected Q2 Results

Fees for TNT, which will lose the NBA after the 2024-25 season, will remain flat, marking a significant win for Warner Bros. Discovery, the WSJ cites familiar sources.

Max and Discovery+ will serve as a growth catalyst for Spectrum's bundle proposition, offering nearly $60 per month of retail DTC value included when added to Disney+, ESPN+, Paramount+, AMC+, BET+, and Vix.

Charter Communications will also partner in the marketing and distributing Warner Discovery's Max and Discovery+ streaming services and receive a share of the revenue from new customers it wins.

Price Actions: WBD stock is up 8.65% at $7.54 at last check Thursday. CHTR stock is up 3.16% at $337.77.

Also Read:

• Charter Communications Q2 Sees Subscriber Loss On ACP Expiry, Still Beats Expectations (UPDATED)