Fox won't renegotiate NFL media rights before current deal expires, CEO Lachlan Murdoch says
Article excerpt
Highlighted: the sentence this signal was extracted from
In this article Fox won't negotiate a new NFL media rights deal before 2030, when its current contract with the league expires via an opt-out clause, Chief Executive Officer Lachlan Murdoch said during a Thursday earnings conference call. The NFL has held preliminary discussions with both Fox and CBS-parent Paramount Skydance about reworking the deals to eliminate the league's opt-out clause and raise the cost of the live rights, CNBC previously reported. Fox and CBS own the NFL's Sunday afternoon packages of live game rights. Without the opt out, Fox and Paramount's deals with the league extend until the end of the 2033-34 season. Murdoch said Thursday that those preliminary discussions led Fox to decide it won't strike a new deal. "In advance of the season, we've had a recent thorough and productive discussions with the league, and as a result, we will not be making any amendments to our existing contractual relationship, which extends to the completion of the 2029 season," Murdoch said. "We'll be ready to engage with the NFL on the opt-out seasons and beyond at a date closer to the 2030 season, which has been the customary timetable." The NFL maintains flexibility to renew deals early with its other media partners, including adding new partners as it has in recent years with YouTube and Netflix. An NFL spokesperson declined to comment on Murdoch's remarks. The CNBC Sport...
Keep reading with a free account
The rest of this article, and every signal for Fox, is in your free account.
