In a massive deal estimated to be worth as much as $5.1 billion, Major League Baseball and 21st Century Fox signed a new rights agreement that will keep top MLB games on Fox Sports and the Fox broadcast network for the next several years, Variety reports.
“Under the terms of the pact, Fox Sports and Fox Deportes maintain exclusive television broadcast rights to the World Series, one League Championship Series, two Division Series and the All-Star Game,” Variety reports. “As in previous agreements, the league’s MLB Network will continue to have the rights to two games from the League’s Division Series that Fox is airing. Fox Sports will also expand its digital rights.”
The deal runs through 2028, adding seven years to the current eight-year pact expiring in 2021, the report notes. Variety quotes Fox saying the new deal will make it “the home to baseball’s marquee events for the next decade.”
The report notes that the current pact was valued at about $525 million per year.
“The fees are believed to increase by 30% early on and by as much as 50% later in the term of the contract, according to people familiar with the matter,” Variety reports.