NFL player Seattle Seahawks Bobby Wagner

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Fox has submitted its bid to renew its NFL rights contract, kicking off a once-in-a-decade scramble among major media conglomerates aiming to pick up one of television’s biggest ratings prizes, two people familiar with the matter confirmed.

Other NFL TV partners are said to have submitted bids over the long Columbus Day weekend. One of the people believed Comcast had submitted its bid, though a rep was not immediately reachable for comment. 

The Fox bid, believed to be in the $2 billion range, is 50 percent larger than what the company offered back in the last cycle, according to a source close to the talks. Bloomberg was first to report the estimated price tag. It is unclear if the Fox bid is for the same set of rights it currently owns. 

Fox’s bid has rankled other TV networks who may have been hoping to keep NFL fee increases in check as subscriber declines and the pandemic have wreaked havoc on TV’s business model and viewing habits. When network owners negotiated deals last time around, the pay-TV ecosystem was still in growth mode. Now it is shrinking with streaming services on the rise. A Variety report suggests rights fees could …read more

Source:: Businessinsider – Sports


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