Warner Bros. Discovery is taking a hefty $9.1 billion non-cash impairment charge, or write-down, at its networks division to align the book value of its linear television business with the reality of uncertain advertising and sports rights renewals as the NBA prepares to move forward.

The value of the linear assets when Discovery and Warner Media merged two and a half years ago was significantly higher than it is now, as consumers migrated and advertising declined. That’s true across the industry. One difference between WBD under David Zaslav and other major media companies is that it just lost a lucrative basketball package to Amazon. WBD had matching rights and is suing the NBA to get the games back, but no one seems to think it can win. Zaslav had said early in the renewal process that the company didn’t necessarily need the NBA, but the lawsuit calls the loss a huge blow that investors can’t feel good about.

“The goodwill write-down was activated in response to the difference between market capitalization and book value, continued weakness in the U.S. linear advertising market and uncertainty related to the renewal of affiliate and sports rights, including the NBA,” the company said.

WBD also reported another $2.1 billion in "pre-tax intangible asset amortization, content appreciation and restructuring charges," but did not provide further details.