Latest news with #Pitaro
Los Angeles Times
6 days ago
- Business
- Los Angeles Times
ESPN nabs streaming rights for WWE events in $1.6 billion deal
ESPN's new direct-to-consumer streaming service will be the new home for WWE's biggest live events including WrestleMania, the companies announced Wedesday. The Walt Disney Co.'s sports media unit will pay around $1.6 billion in a five year deal with the WWE, which will begin in 2026. The rights fee is nearly double the $180 million a year paid by NBCUniversal, which carried the events on Peacock. ESPN is launching its new streaming platform on Aug. 21. For $29,99 a month, consumers will get access to ESPN's channels and other content without a pay TV subscription. The service will carry the 10 marquee events staged annually by WWE, which include Royal Rumble, Survivor Series and SummerSlam. The deal comes after ESPN's announcement that the NFL is taking a 10% equity stake in the unit. In return, ESPN takes over the NFL's media properties, NFL Network and RedZone, giving the company more live games and exclusive content from the league. While the WWE's programming is entertainment with predetermined outcomes, ESPN Chairman Jimmy Pitaro told the Times that the live events will help broaden the audience for the company's new streaming service. 'When you look at the WWE audience it is younger than what we typically see across other sports,' Pitaro said. 'It's more diverse and it is about 38% female which is a higher percentage of what we have at the network level.' Pitaro noted that having major WWE events scheduled throughout the year will help the new streaming service retain subscribers who otherwise might check out when their favorite sports are not in season. ESPN has aired wrestling programs in the past. The network carried matches from the American Wrestling Assn., a Minneapolis-based outfit, from 1985 to 1990. ESPN already has strong business relationship with WWE parent TKO Group Holdings, as the network has carried the company's UFC events.
Los Angeles Times
7 days ago
- Business
- Los Angeles Times
NFL takes 10% stake in Disney's ESPN, which now owns NFL Network
The NFL has reached a deal to take a 10% ownership stake in the Walt Disney Co.'s ESPN, the league and Disney announced Tuesday evening, a move that is expected to solidify the sports media outlet's relationship with the league for years to come. In return for the equity stake valued at more than $2 billion based on recent valuations of the company, ESPN will take over the NFL's cable properties including the NFL Network and Red Zone, the popular channel that continuously updates fans on the slate of Sunday contests. The NFL Network also has the rights to eight regular season games. In addition to the sale of NFL Network, the NFL and ESPN are also entering into a second non-binding agreement, under which the NFL will license to ESPN certain NFL content and other intellectual property to be used by NFL Network and other assets. The deal is a big win for ESPN Chairman Jimmy Pitaro, who took over the Disney unit in 2018 with a mandate to improve the company's relationship with the NFL. The equity stake comes ahead of ESPN's move into the direct-to-consumer streaming business this fall, which gives consumers the opportunity to purchase the company's sports channels without a cable or satellite TV subscription. NFL Network will also be available on the streaming service. 'This is an exciting day for sports fans,' Pitaro said Tuesday in a statement. 'By combining these NFL media assets with ESPN's reach and innovation, we're creating a premier destination for football fans. Together, ESPN and the NFL are redefining how fans engage with the game — anytime, anywhere. This deal helps fuel ESPN's digital future, laying the foundation for an even more robust offering as we prepare to launch our new direct-to-consumer service.' The new product is aimed at recapturing sports fans who are forgoing cable and satellite services. ESPN has seen its reach in cable decline from 98 million homes in 2013 to around 72 million as a result of cord-cutting. ESPN has the broadcast rights to 'Monday Night Football' and two Super Bowl games in the current NFL contract that runs through 2033 but is expected to be reopened in 2029. The deal with Disney means the NFL's other partners — Fox, NBC, CBS, YouTube and Amazon — will be bidding against an entity that the league has a financial interest in next time the media rights come up. Lachlan Murdoch, executive chairman of Fox Corp., told Wall Street analysts Tuesday he is not concerned the NFL's partnership with ESPN will impact his network's standing with the league. 'We have a tremendous relationship with the NFL,' Murdoch said. 'We appreciate that they are fans of the broadcast and cable networks, and we look forward to working with them and deepening our relationship with them as we move forward.'
Yahoo
29-05-2025
- Business
- Yahoo
What's next for TNT's 'Inside the NBA' as it transitions to ESPN? Will there be changes to the landmark show?
After 35 seasons, "Inside the NBA" as we know will be no more. The iconic studio show will sign off for the last time on TNT at the conclusion of the Eastern Conference Finals series between the Indiana Pacers and New York Knicks. It's the end of an era that's significant to NBA fans of all ages. But fret not, loyal viewers. "Inside the NBA" isn't going away. It's just moving to a new location at ESPN. ESPN acquired the rights to "Inside the NBA" in a landmark November deal with Warner Bros. Discovery to broadcast the show on its networks. In return, TNT Sports will take over exclusive rights to a slate of Big 12 football and men's college basketball games from ESPN in addition to a deal that it previously had in place with the network for rights to College Football Playoff games. In short, "Inside the NBA" will carry on next season despite the end of TNT's 35-year run covering the NBA. Probably/hopefully not? ESPN and chairman Jimmy Pitaro wanted "Inside the NBA" for a reason. ESPN is not very good at producing NBA studio shows. For pretty much its entire existence as an NBA partner, ESPN has failed to produce a show that's compelling, much less one that captures the zeitgeist like "Inside the NBA." Instead, the quality of the ESPN product has generally ranged from functional to must-mute. The struggles aren't from a lack of trying. ESPN has rotated in and out a cast of hosts, analysts and reporters while trying to find the right formula. None of the efforts has produced more than moderate success, despite significant high-level talent in the rotation. So Pitaro reached a reasonable conclusion. If you can't beat 'em, buy 'em. Or trade for 'em, at least. Once it became clear that TNT was, in fact, getting out of the NBA business for the first time since 1989, Pitaro came up with one of the more brilliant, yet obvious ideas in recent sports media: obtain the rights to "Inside the NBA" and put it on the air as is. It was an idea with two significant impacts: Upgrade the product around ESPN's NBA broadcasts. And, more importantly in the grand scheme, give a lifeline to "Inside the NBA," which was previously on track to become an all-too unfortunate casualty of the latest NBA media rights shuffle. By all accounts — including directly from ESPN — it sounds like "Inside the NBA" will continue to run largely as is. In its announcement about acquiring the rights to the show, ESPN made clear that "Inside the NBA" will continue to be produced by TNT Sports. "TNT Sports will continue to independently produce Inside the NBA from its Atlanta-based studios over the term of the agreement," ESPN's announcement from November reads. It will feature the same cast and production team and will continue to be produced out of Turner's Studio J in Atlanta. ESPN and ABC will simply license the show for broadcast on its own networks. But surely ESPN will want to put its own fingerprints on the show, right? There's no way the "worldwide leader" won't want to tinker with it, at least a little bit. The Athletic's media reporter Andrew Marchand, who's covered the show's transition from TNT to ESPN, doesn't think so. Here's what he told "The Dan Patrick Show" in November. "I don't think that's gonna happen," Marchand said of ESPN tinkering with the show. Marchand went on to cite other high-profile acquisitions under Pitaro like "The Pat McAfee Show" that runs largely untouched by ESPN management, and the network's decision to allow Peyton Manning to broadcast his "Monday Night Football" "ManningCast" out of his garage in Denver. "I think that's the Pitaro playbook," Marchand continued. "If I'm a producer there, I'm kind of saying, if I'm in Bristol, 'what are we doing? We can't get this right. The big boss keeps outsourcing our programming. That's not a good sign.' "But it's not the same Bristol. ... [Pitaro's] going out and getting what he wants, especially in terms of the on-air people." The people Pitaro wanted, in this instance, were Charles Barkley, Ernie Johnson, Kenny Smith and Shaquille O'Neal. And he's got them. Johnson was reportedly staying at TNT whether or not "Inside the NBA" continued. Barkley was signed to a long-term deal with TNT before the ESPN acquisition and has since reaffirmed his commitment to the network. O'Neal has signed a new deal to remain with the network since ESPN licensed the show. And Smith is expected to remain on the show on a multiyear deal, according to CNBC. When exactly and for how long "Inside the NBA" will air isn't entirely clear. But some important details are, including the "Inside the NBA" crew covering the NBA Finals for the first time. ESPN provided a framework of a schedule in its acquisition announcement: "The legendary 'Inside the NBA' studio team will appear on ESPN and ABC surrounding high-profile live events, including ESPN's pregame, halftime and postgame coverage of the NBA Finals on ABC, conference finals, NBA playoffs, all ABC games after January 1, Christmas Day, opening week, the final week of the season and other marquee live events." ESPN also announced that its in-house studio shows "NBA Countdown" and "NBA Today" will continue to air. So "Inside the NBA" isn't fully replacing ESPN's NBA studio coverage. So does this mean that "Inside the NBA" won't air before Christmas outside of opening week? That wouldn't make much sense given the October start to the NBA's regular season. "They can't get rid of us."Our first moment together after we found out Inside the NBA will live on — NBA on TNT (@NBAonTNT) May 28, 2025 It's possible that some of those early-season broadcasts could fall under the umbrella of "other marquee live events" and potentially include the NBA Cup that runs from mid-November through mid-December. But none of that is confirmed as of yet. Smith recently raised concerns about giving up schedule control to ESPN in an interview with the New Yorker. "We have the same crew of people doing the show," Smith said. "But the timing: are we a half hour now? Are we forty-five minutes? Fifteen minutes? "Those are the things that you can control when you own your I.P. But we don't. That was the only part that made me uncomfortable and disheartened, because I felt that the four of us should have went into ABC to negotiate that deal. I'm not saying that our executives don't know how to do that, but we are the I.P. now." So not everything will remain the same. And there will inevitably be some unexpected surprises given all the new moving parts. But the big picture is clear. We're not mourning the end of "Inside the NBA" this week with the conclusion of the Eastern Conference finals. We're just welcoming a new chapter. And that's great news for those of us who love the NBA.
Yahoo
29-05-2025
- Business
- Yahoo
What's next for TNT's 'Inside the NBA' as it transitions to ESPN? Will there be changes to the landmark show?
After 35 seasons, "Inside the NBA" as we know will be no more. The iconic studio show will sign off for the last time on TNT at the conclusion of the Eastern Conference Finals series between the Indiana Pacers and New York Knicks. It's the end of an era that's significant to NBA fans of all ages. But fret not, loyal viewers. "Inside the NBA" isn't going away. It's just moving to a new location at ESPN. ESPN acquired the rights to "Inside the NBA" in a landmark November deal with Warner Bros. Discovery to broadcast the show on its networks. In return, TNT Sports will take over exclusive rights to a slate of Big 12 football and men's college basketball games from ESPN in addition to a deal that it previously had in place with the network for rights to College Football Playoff games. In short, "Inside the NBA" will carry on next season despite the end of TNT's 35-year run covering the NBA. Probably/hopefully not? ESPN and chairman Jimmy Pitaro wanted "Inside the NBA" for a reason. ESPN's not very good at producing NBA studio shows. For pretty much its entire existence as an NBA partner, ESPN has failed to produce a show that's compelling, much less one that captures the zeitgeist like "Inside the NBA." Instead, the quality of the ESPN product has generally ranged from functional to must-mute. The struggles aren't from a lack of trying. ESPN's rotated in and out a cast of hosts, analysts and reporters while trying to find the right formula. None of the efforts has produced more than moderate success, despite significant high-level talent in the rotation. So Pitaro reached a reasonable conclusion. If you can't beat 'em, buy 'em. Or trade for 'em, at least. Once it became clear that TNT was, in fact, getting out of the NBA business for the first time since 1989, Pitaro came up with one of the more brilliant, yet obvious ideas in recent sports media: obtain the rights to "Inside the NBA" and put it on the air as is. It was an idea with two significant impacts: Upgrade the product around ESPN's NBA broadcasts. And, more importantly in the grand scheme, give a lifeline to "Inside the NBA," which was previously on track to become an all-too unfortunate casualty of the latest NBA media rights shuffle. By all accounts — including directly from ESPN — it sounds like "Inside the NBA" will continue to run largely as is. In its announcement about acquiring the rights to the show, ESPN made clear that "Inside the NBA" will continue to be produced by TNT Sports. "TNT Sports will continue to independently produce Inside the NBA from its Atlanta-based studios over the term of the agreement," ESPN's announcement from November reads. It will feature the same cast and production team and will continue to be produced out of Turner's Studio J in Atlanta. ESPN and ABC will simply license the show for broadcast on its own networks. But surely ESPN will want to put its own fingerprints on the show, right? There's no way the "worldwide leader" won't want to tinker with it, at least a little bit. The Athletic's media reporter Andrew Marchand, who's covered the show's transition from TNT to ESPN, doesn't think so. Here's what he told "The Dan Patrick Show" in November. "I don't think that's gonna happen," Marchand said of ESPN tinkering with the show. Marchand went on to cite other high-profile acquisitions under Pitaro like "The Pat McAfee Show" that runs largely untouched by ESPN management, and the network's decision to allow Peyton Manning to broadcast his "Monday Night Football" "ManningCast" out of his garage in Denver. "I think that's the Pitaro playbook," Marchand continued. "If I'm a producer there, I'm kind of saying, if I'm in Bristol, 'what are we doing? We can't get this right. The big boss keeps outsourcing our programming. That's not a good sign.' "But it's not the same Bristol. ... [Pitaro's] going out and getting what he wants, especially in terms of the on-air people." The people Pitaro wanted, in this instance, were Charles Barkley, Ernie Johnson, Kenny Smith and Shaquille O'Neal. And he's got them. Johnson was reportedly staying at TNT whether or not "Inside the NBA" continued. Barkley was signed to a long-term deal with TNT before the ESPN acquisition and has since reaffirmed his commitment to the network. O'Neal has signed a new deal to remain with the network since ESPN licensed the show. And Smith is expected to remain on the show on a multiyear deal, according to CNBC. When exactly and for how long "Inside the NBA" will air isn't entirely clear. But some important details are, including the "Inside the NBA" crew covering the NBA Finals for the first time. ESPN provided a framework of a schedule in its acquisition announcement: "The legendary 'Inside the NBA' studio team will appear on ESPN and ABC surrounding high-profile live events, including ESPN's pregame, halftime and postgame coverage of the NBA Finals on ABC, conference finals, NBA playoffs, all ABC games after January 1, Christmas Day, opening week, the final week of the season and other marquee live events." ESPN also announced that its in-house studio shows "NBA Countdown" and "NBA Today" will continue to air. So "Inside the NBA" isn't fully replacing ESPN's NBA studio coverage. So does this mean that "Inside the NBA" won't air before Christmas outside of opening week? That wouldn't make much sense given the October start to the NBA's regular season. "They can't get rid of us."Our first moment together after we found out Inside the NBA will live on — NBA on TNT (@NBAonTNT) May 28, 2025 It's possible that some of those early-season broadcasts could fall under the umbrella of "other marquee live events" and potentially include the NBA Cup that runs from mid-November through mid-December. But none of that is confirmed as of yet. Smith recently raised concerns about giving up schedule control to ESPN in an interview with the New Yorker. "We have the same crew of people doing the show," Smith said. "But the timing: are we a half hour now? Are we forty-five minutes? Fifteen minutes? "Those are the things that you can control when you own your I.P. But we don't. That was the only part that made me uncomfortable and disheartened, because I felt that the four of us should have went into ABC to negotiate that deal. I'm not saying that our executives don't know how to do that, but we are the I.P. now." So not everything will remain the same. And there will inevitably be some unexpected surprises given all the new moving parts. But the big picture is clear. We're not mourning the end of "Inside the NBA" this week with the conclusion of the Eastern Conference finals. We're just welcoming a new chapter. And that's great news for those of us who love the NBA.
Business Times
14-05-2025
- Business
- Business Times
Disney unveils new ESPN streaming service for US$30 a month
[NEW YORK] Walt Disney said its new sports streaming platform will be called ESPN, the same as its popular cable-TV channel, and cost US$30 a month. The new product, unveiled at a media event on Tuesday (May 13) in New York, will give the roughly 60 million US households that do not have a traditional pay-TV package the option of watching the channel's marquee sporting events such as Monday Night Football, US Open tennis and college football online. The platform is set to go live later this year. The 'unlimited' plan will give fans access to all of ESPN's traditional TV networks, including ESPN2, ESPNU and others, in addition to ESPN on ABC, ESPN+ and more, covering 47,000 live events a year, on-demand replays and original programming and studio shows including SportsCenter. 'It's going to redefine our business,' said ESPN chairman Jimmy Pitaro. 'Fans have never been able to buy our networks directly before.' ESPN has been working on the product for more than two years. It will host all of the cable network's programming as well as experiences related to the company's daily fantasy sports and sports betting. Disney will also offer the new ESPN as part of a bundle with Hulu and Disney+ for US$36 a month, with a promotional price of US$30 monthly for the first year. 'It will be the ultimate sports destination,' Pitaro said. A NEWSLETTER FOR YOU Friday, 2 pm Lifestyle Our picks of the latest dining, travel and leisure options to treat yourself. Sign Up Sign Up For months, the media and industry observers had been referring to the new product as 'ESPN Flagship', a name that many thought would stick. But Pitaro said, 'we kept coming back to those four letters,' as a reason to keep the original moniker. The company will continue to offer its ESPN+ streaming service, which has programming different from the main channels. As more viewers move away from cable subscriptions and traditional TV networks, media companies such as Disney, Comcast and Paramount Global are racing to make more sports available for streaming. Industry observers have long feared that a standalone version of ESPN, the most-watched sports channel, would lead to an even greater wave of cable-TV cancellations. To prevent that, Disney chief executive officer Bob Iger has said customers who already get ESPN through a cable or satellite-TV subscription will also get the streaming version at no additional cost. But by bundling ESPN with Disney+ and Hulu for only US$6 a month more than the standalone sports site, Disney is clearly trying to steer consumers to the combined offering. The industry has been moving towards more packaged deals in recent years, in part because subscribers are less likely to cancel if it means losing multiple services. Bloomberg Intelligence analyst Geetha Ranganathan said Disney's pricing structure hits the 'sweet spot' and could boost profit. There could be wide uptake for the new ESPN streaming platform, especially the bundled offering with Hulu and Disney+, she said. 'That could generate US$3 billion or more in annual high-margin revenue by 2026 if it garners 10 million subscribers.' At the event on Tuesday, ESPN highlighted the central role National Basketball Association (NBA) games will play on its upcoming streaming platform. Disney joined Comcast and last summer in signing a US$76 billion media rights deal with the league that kicks off with the new season in October. Comcast's NBC is also making NBA games a major focus for its Peacock streaming platform. Disney previously worked with Fox and Warner Bros Discovery on creating a sports streaming joint venture called Venu Sports, which would have pooled content from their networks, including ESPN, and cost US$43 a month. The planned offering sparked a lawsuit from competitor FuboTV, which argued it would block rivals and raise prices for consumers. Fox is planning to launch a new streaming service combining its news, sports and entertainment content before the NFL and college football seasons this fall. BLOOMBERG
