Fox Pushes Back NFL Media-Rights Negotiations Until 2028
The company also touted strong results from the FIFA men’s World Cup.
Lachlan Murdoch, the executive chair and CEO of Fox, announced on Thursday that the broadcaster would not engage in domestic rights renegotiations with the NFL until at least 2028. During the company's fiscal fourth quarter earnings report, Murdoch stated that recent discussions with the NFL had led to a consensus to postpone the issue.
Murdoch indicated that Fox was prepared to engage with the NFL regarding opt-out seasons and beyond around the 2030 season, which is the usual timeline. The NFL had planned to begin talks on new domestic rights deals as early as this year, given its record-breaking viewership totals. NFL Commissioner Roger Goodell has emphasized the significance of the league's contractual opt-outs, which commence after the 2029 season, enabling the NFL to capitalize on its increased market power.
Fox had anticipated the financial implications of higher rights fees. Currently, Fox pays approximately $2.25 billion annually for its NFL rights package, and any new agreement is expected to be considerably more expensive. Delays in Paramount's planned acquisition of Warner Bros. Discovery, which is expected to affect CBS Sports, may complicate matters, though the situation might not be significantly impacted.
The NFL has not commented on Fox's latest remarks, but league sources confirmed that the league retains the option to pursue its media strategy. Fox reported financial results boosted by the 2026 FIFA men's World Cup, which occurred during the quarter. The company generated $4.21 billion in revenue, a 28% increase from the same period in 2025, and net income of $696 million, a 3% decrease.
Advertising revenue surged 78%, primarily due to the World Cup. For the full year, Fox reported $17.13 billion in revenue, a 5% increase, and income of $1.73 billion, a 24% decrease. Costs associated with the debut of Fox One streaming service and its subsequent development contributed to the earnings in both periods. Murdoch highlighted how the World Cup, with its record-breaking viewership, demonstrated Fox's ability to amplify events uniquely in the market.
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