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As talk of a new suite of NFL deals cools, analyst Steven Cahall predicts a bruising rights fight that will reshape media economics, while casting doubt on blockbuster M&A scenarios for NBC and Fox.
There’s enough happening on the sports-adjacent media M&A market of late to make one’s head spin: Fox is buying Roku for $22 billion, Comcast is spinning off NBCUniversal’s entertainment assets, and the NFL—the single most valuable property in all of media—is still inching toward a renewal that could reshape the economics of every network and streamer in the country.
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