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.