The NFL’s “Thursday Night Football” package, which was widely considered to be a money loser for the past couple of seasons on CBS and NBC, is moving to Fox — and Fox is shelling out big bucks for the privilege.

Fox Sports announced today that it reached an agreement with the NFL to carry the Thursday night games for the next five seasons. Fox is believed to be paying about $3.3 billion, or $660 million per year, for the rights.

NBC and CBS previously split a 10-game package, paying in the neighborhood of $450 million per season. The Fox deal is for 11 games a year, spanning the NFL’s Week 4-15, excluding Thanksgiving night.

In addition to being broadcast on the Fox network, games will be simulcast on NFL Network and distributed in Spanish on Fox Deportes.

The agreement marks the fifth media rights deal between Fox Sports and the NFL dating back to 1993, when the fledgling Fox network struck a $1.6 billion deal with the NFL to wrest Sunday games from CBS in a move that established Fox as a major broadcast network.

Please click here to read the full announcement from Fox Sports.