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Sport MLB, Turner Sports reach reported $3.7 billion media rights extension

00:41  28 september  2020
00:41  28 september  2020 Source:   msn.com

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Turner Sports extended its broadcast and media rights agreement with Major League Baseball for another seven years, Sports Business Journal reported Thursday, in a deal worth $ 3 . 7 billion . Turner Sports was a longtime broadcaster of Atlanta Braves games on the TBS network before

The deal comes with owners asking players to take another pay cut in a shortened 2020 season.

Major League Baseball and Turner Sports announced Thursday morning a seven-year media rights extension that will run through the 2028 season. John Ourand and Eric Prisbell of Sports Business Journal report that the agreement will see Turner Sports pay roughly $535M annually in the new agreement — a 65% increase over their previous deal’s $325M annual sum. That would bring the total value of the extension to $3.7 billion for Major League Baseball.

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4:23PM: MLB has reached an agreement on a billion -dollar deal with Turner Sports that will allow the network to continue broadcasting a postseason While the deal itself is no doubt notable for the sport , its announcement comes at an awkward time for the league , given the state of negotiations between

Major League Baseball ’s new seven -year deal with Turner Sports is for nearly $ 3 .745 billion Over Zoom, MLB commissioner Rob Manfred and Warner Media News & Sports chairman Jeff Zucker Fox has already locked up the long-term rights to the World Series. ESPN’s extension is in the works

a close up of a baseball game: tTe agreement will see Turner Sports pay roughly $535M annually in the new agreement © Tim Fuller-USA TODAY Sports tTe agreement will see Turner Sports pay roughly $535M annually in the new agreement

It’s the latest wildly lucrative media rights deal for MLB. Less than two years ago, MLB and FOX Sports announced a media rights extension covering the same 2022-28 span that was worth a reported $5.1 billion and a three-year, $300M streaming deal with DAZN. FOX retained the rights to the World Series under the parameters of that deal.

MLB’s newest windfall comes at a time that owners throughout the league have been hit by revenue losses which spawned outlandish comments on baseball’s lack of profits. Cardinals chairman Bill DeWitt Jr. said earlier this summer that the baseball industry “isn’t very profitable, to be quite honest.” It was a borderline farcical comment that prompted many to point out that DeWitt purchased the Cardinals, currently valued at an estimated $2.2 billion, for a reported $150M a quarter-century ago. However, other owners have voiced similarly brazen claims.

MLB, Turner Sports reach reported $3.7 billion media rights extension

  MLB, Turner Sports reach reported $3.7 billion media rights extension MLB’s newest windfall comes at a time that owners throughout the league have been hit by revenue losses which spawned outlandish comments on baseball’s lack of profits. Cardinals chairman Bill DeWitt Jr. said earlier this summer that the baseball industry “isn’t very profitable, to be quite honest.” It was a borderline farcical comment that prompted many to point out that DeWitt purchased the Cardinals, currently valued at an estimated $2.2 billion, for a reported $150M a quarter-century ago. However, other owners have voiced similarly brazen claims.

MLB and Turner Sports declined comment. Besides Turner , ESPN/ABC had interest in adding The deal is the first major rights agreement under president Jeff Zucker and shows Turner ’s Combined with Fox’s long term deal and now Turners , the league has multiple billions committed to it long-term.

AT&T Inc. extended its media - rights deal with Major League Baseball , agreeing to pay a significant premium to continue It also gives more digital rights to its sports website, Bleacher Report . In 2018, Fox Corp. and Major League Baseball extended their separate rights deal for seven more years

Cubs owner Tom Ricketts, for instance, lamented “biblical” 2020 losses while telling ESPN’s Jesse Rogers: “[Owners] raise all the revenue they can from tickets and media rights, and they take out their expenses, and they give all the money left to their GM to spend. The league itself does not make a lot of cash.”

Comments along those lines, juxtaposed with multi-billion dollar agreements such as Thursday’s Turner deal and 2018’s FOX extension, only serve to stoke the flames in the ever-growing tension between the MLBPA and MLB’s owners. That tension proved overwhelmingly detrimental earlier this year as the two sides spent months in a quarrel over the economic components of return-to-play proposals — a contentious back-and-forth that did not reflect well on either party.

The distrust between the two sides figures to continue in a unique offseason that many expect to be frustrating for free agents as teams look to recoup lost revenue. And, all of this comes with just over one year remaining on the current collective bargaining agreement between MLB and the MLBPA, which expires in December 2021.

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Major League Baseball has reached a billion -dollar deal with Turner Sports , giving the broadcast company continued rights to air playoff games According to the New York Post, which first reported on the new deal Saturday, Turner will continue to have broadcast rights for a league championship

Major League Baseball and Fox Sports announced a contract extension Thursday through the We value Fox Sports ' commitment to baseball and are excited to continue our partnership with this new Fox also received "expanded streaming, social media and highlight rights " and continued Spanish TV

Turning to the details of today’s agreement, TBS will continue airing one Wild Card game, two Division Series rounds and one League Championship Series each year. The agreement also introduces a new, season-long Tuesday Night Baseball package beginning in 2022 that will be hosted by Ernie Johnson and feature analysis from Pedro Martinez, Jimmy Rollins and Curtis Granderson. There’s also a digital component of the agreement, as one would expect, allowing Turner to grant streaming access via various platforms.

“We’re delighted to extend our long-standing relationship with Major League Baseball and all of the opportunities this agreement offers us as we broaden our coverage of the game across all of our platforms,” said WarnerMedia chairman of news and sports Jeff Zucker.

“This agreement positions both organizations for mutual growth by continuing Postseason coverage on TBS, delivering a new Tuesday night Baseball franchise, and expanding baseball’s presence on Turner Sports’ digital platforms,” Major League Baseball commissioner Rob Manfred added in his own statement.

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MLB signed a seven -year media rights renewal with Fox Sports that sources say is worth .1B, or 8.6M per year. The deal formally was announced at the MLB owners meetings in Atlanta today. Fox currently is in the middle of an eight-year pact and pays 5M annually through '21, meaning the

© 2020 Forbes Media LLC. All Rights Reserved. According to industry sources close to the situation but wished to remain anonymous, Walt Disney-owned ESPN is actively in negotiations with Major League Baseball for an extension of their media rights to show live games.

It’s notable, too, that Thursday’s agreement — like the 2018 FOX deal — is centered around the preexisting 10-team playoff format featuring sudden-death Wild Card games. Commissioner Manfred, meanwhile, has already voiced his hope that this year’s expanded playoff format will stick in the long term. Doing so would seem to create additional opportunity for MLB to sell rights to some of the newly created postseason rounds — be it to Turner Sports, FOX or another major outlet.

Various reports have pegged this year’s expanded postseason format as generating between $200-300M in additional television revenue for the league. The players need to sign off on permanent postseason expansion, however, which is sure to be a key talking point in the aforementioned wave of collective bargaining talks that looms on the horizon.

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