Major League Baseball is in advanced talks with multiple media giants, including Comcast Corporation's (NASDAQ:CMCSA) NBCUniversal, Netflix Inc (NASDAQ:NFLX), and The Walt Disney Company's (NYSE:DIS) ESPN, on a series of new rights deals that could reshape how fans watch the sport.
Citing people familiar with the negotiations, the Wall Street Journal noted that the agreements could bring in significantly more revenue for Major League Baseball (MLB) than its current contract with ESPN.
NBCUniversal is nearing a three-year agreement worth about $200 million annually to air games on its broadcast network and Peacock, its streaming service.
The WSJ report added that under the proposed terms, Sunday night games would be carried on NBC when football and basketball are not scheduled, while additional games would be streamed on Peacock. The deal would also give NBCU rights to some postseason games, adding to its already sports-heavy lineup.
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Disney's ESPN is also engaged in talks with MLB. The network is exploring a deal that could incorporate MLB.TV, the league's out-of-market streaming service.
The agreement could include both in-market and national games, positioning ESPN to expand its streaming reach. Analysts say adding MLB.TV would help draw dedicated fans to ESPN's upcoming $29.99-a-month service, though the subscriber base may remain limited.
MLB has made it clear it wants to increase revenues beyond its prior ESPN contract, which paid the league $550 million annually from 2026 to 2028 for regular-season games, the Home Run Derby, and the Wild Card round.
That agreement ends after the 2025 season, following a public dispute over ESPN's reduced baseball coverage outside live games.
Commissioner Rob Manfred criticized the network for what he called "minimal coverage" of the sport in recent years.
The potential new contracts highlight the growing value of live sports, one of the few reliable draws for television networks and streaming services seeking to retain audiences.
While baseball no longer commands the same marquee status it once held, postseason games and signature events like the Home Run Derby remain major attractions for viewers.
Comcast reported better-than-expected second-quarter results, driven by steady execution across its media, connectivity, and theme park businesses.
The company reported a quarterly growth of 2.1% year-over-year (Y/Y) to $30.31 billion, beating the analyst consensus estimate of $29.80 billion.
Adjusted earnings per share came in at $1.25, beating analyst consensus estimates of $1.17. Its media segment posted revenue growth of 1.8% Y/Y to $6.44 billion.
Netflix, meanwhile, is close to securing rights to stream the Home Run Derby in a separate deal valued at more than $35 million a year, the WSJ reported.
That agreement would run through 2028 and give the streaming giant a high-profile entry into live baseball programming. Netflix has recently become more aggressive in pursuing sports rights to expand its live content slate.
Price Action: CMCSA stock is up 1.24% at $34.02 at the last check on Friday.
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