Fox Sports Bolsters Soccer Lineup With U.S. Rights to UEFA Matches
(Bloomberg) -- Fox Corp. acquired U.S. rights to broadcast Europe’s UEFA soccer matches, deepening its commitment to live sports.
With the deal, the UEFA European Football Championship becomes part of Fox soccer coverage that includes the FIFA World Cup and the women’s World Cup, the company said Wednesday. Terms weren’t disclosed.
The media giant controlled by the Murdoch family is prioritizing a few businesses, including live sports and news, after selling the bulk of its entertainment properties to Walt Disney Co. in 2019.
The rights deal -- which will feature more than 1,500 soccer matches -- makes Fox Sports the exclusive U.S. broadcaster for the circuit, beginning with the UEFA Nations League in June 2022. It will also have the UEFA European Football Championship in 2024 and 2028.
Fox announced its latest sports deal on an earnings call Wednesday. Thanks in part to the Tubi online TV business, the company reported quarterly sales for the period ending Sept. 30 of $3.05 billion, above the average analyst estimate of $2.94 billion. Adjusted profit was $1.11 a share, also beating the average estimate of $1.04.
Advertising sales jumped 17% jump over the same period in 2020. Still, operating earnings declined from a year ago, due in part to the cost of bringing back live sports, including college football and Major League Baseball’s All-Star game, the company said.
Shares of Fox were little changed in extended trading after the announcement. The stock lost 2 cents to $41.58 at the close in New York and is up 43% this year.
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