March 19 (Reuters) - Walt Disney ( DIS ) said on Tuesday

its sports network ESPN ( DIS ) has extended its exclusive media rights

for College Football Playoff (CFP) for six more years, through

the 2031-32 season.

The deal is valued at $7.8 billion, according to an ESPN ( DIS )

report.

Disney ( DIS ), along with Warner Bros Discovery ( WBD ) and Fox

Corp ( FOXA ), is set to launch a sports streaming venture this

fall, in hopes of drawing in younger viewers.

Under the deal, ESPN ( DIS ) will continue to be the home of the

playoffs and CFP will expand from four to 12 teams starting this

upcoming season (2024-25).

ESPN ( DIS ) will broadcast the national championship game on ABC,

in addition to ESPN's ( DIS ) MegaCast.

The new agreement includes "expansive rights to simulcast or

MegaCast CFP games across all Walt Disney Company ( DIS ) platforms,

including TWDC Direct-to-Consumer offerings," according to the

release.

"This agreement further solidifies ESPN ( DIS ) as the home of

college football, as well as the destination for the vast

majority of major college championships for the next eight

years," ESPN ( DIS ) Chairman Jimmy Pitaro said.

In January, ESPN ( DIS ) and the National Collegiate Athletic

Association (NCAA) agreed to a $920 million, eight-year

extension to their media rights deal that covers 40

championships, including international rights to the "March

Madness" college basketball tournament.

CFP has been part of ESPN ( DIS ) since its launch in 2015.