NBC Sports Group Misses Out on Pac-12 Deal
May 3, 2011 1 Comment
One would think that NBC would re-focus it’s commitment to the Olympics at this point. They need to add something else within the next couple of years. From Richard Sandomir of the New York Times:
The Pacific-10 Conference will start its own network on cable television in 2012 but will also sell most of its marquee football and basketball games to Fox and ESPN for about $3 billion over 12 years, more than quadrupling what the two companies have been paying.
It is the richest conference deal ever. The Pac-10, which is expected to announce the agreements Wednesday, is following the media model of the Big Ten Conference, which in 2007 created its own network and negotiated a 10-year, $1 billion deal with ESPN.
But a critical difference between the conferences’ deals is that the Pac-10 will retain full ownership of its network. Fox Cable Networks owns 49 percent of the Big Ten channel. Another recently created college channel, the Longhorn Network, which will focus on University of Texas sports, culture and academics, is owned by ESPN as a result of a 20-year, $300 million payment.
“We didn’t feel we had to give equity to get the broadcast and cable packages we got,” Larry Scott, the Pac-10’s commissioner, said in a telephone interview.
He said the size of the TV package was a result of the conference’s rights being previously undervalued; the size of its markets; the pooling of media rights that had been scattered among its schools; the presence of two programs, Oregon and Stanford, in B.C.S bowls last season; and the competitiveness among ESPN, Fox and Comcast, which also bid.