NEW YORK—The NFL has announced a new 11-year deal with Amazon, CBS, ESPN/ABC, Fox and NBC for the distribution of NFL games across traditional TV and digital platforms, as well as additional media rights. The deal is worth $113 billion over the course of the contract, per the Associated Press, and will run from 2023-2033.

The deal keeps the NFL on its traditional broadcast networks, but it also expands the league’s digital footprint as part of an effort to reach a broader audience, the NFL said in its official announcement.

That expansion includes Amazon Prime Video will be the exclusive home of “Thursday Night Football” and the NFL’s first ever all-digital package. In addition, CBS games will stream live on the new Paramount+ streaming service; ESPN+ will exclusively stream one International Series game every season, as well as simulcast of games on ABC and ESPN; Fox will deliver NFL programming on its Tubi AVOD streaming platform; and NBC’s Peacock will deliver an exclusive feed of a select number of NFL games over the course of the agreement.

As for the over-the-air delivery of games, each broadcast network is essentially keeping the status quo. CBS keeps the rights to the AFC package of Sunday afternoon games, while Fox will keep the NFC games. ESPN will have “Monday Night Football” and, confirming earlier reports, ABC acquires rights for two Super Bowls and exclusive regular season games. NBC will remain the network for “Sunday Night Football.” NFL Network will also continue to televise a select schedule of exclusive games on a yearly basis.

The Super Bowl schedule for the networks breaks down like this:

• CBS: 2023, 2027, 2031 
• Fox: 2024, 2028, 2032 
• NBC: 2025, 2029, 2033 
• ESPN/ABC: 2026, 2030 

NBC is already set to broadcast Super Bowl LVI in 2022.

Also as part of the deal, there is an increased ability to flex games to either “Sunday Night Football” or “Monday Night Football.” The NFL also touts the ability for broadcasters to innovate around their productions to provide interactive elements as part of their digital presentations. Alternative broadcasts of select NFL games similar to Nickelodeon’s 2020 playoff games are also expected.

Another change expected, though not officially confirmed, is the addition of a 17th regular season game.

"These new media deals will provide our fans even greater access to the games they love.  We're proud to grow our partnerships with the most innovative media companies in the market," NFL Commissioner Roger Goodell said.

MONTEREY, CALIF.—After a lackluster start to the year, SNL Kagan has announced that broadcast station M&A volume saw a significant increase in the third quarter, reaching $3.04 billion. A series of large TV deals were registered at $2.61 billion by SNL Kagan, while radio reached $422.1 million. The total is more than twice the combined amount registered in the previous three quarters, and brings the 2015 total to $3.41 billion.

After not registering a single deal above $100 million between October 2014 and August 2015, five such transactions were registered during Q3 of 2015.The largest deal was Media General’s acquisition of Meredith Corp., which SNL Kagan valued at $1.81 billion. However, Nextstar Broadcasting announced on Sept. 28 an offer of $4.1 billion to buy all of Media General. The Nextstar offer was not included in SNL Kagan’s total deal volume numbers.

Other deals that took place during Q3 included Gray Television’s $100 million purchase of Gazette Company’s Cedar Rapids, Iowa station and $420.5 million deal for Schurz Communication’s 15 TV stations and two local marketing agreements in seven markets. Raycom Media also acquired Drewry Communications Group’s seven TV stations at a value of $160 million.

As a result of these and other deals, the TV broadcast cash flow multiple on two-year average forward cash flow rose from 8.0x at the end of Q2 to 8.3x at the end of Q3.

SNL Kagan, a division of SNL Financial LC, is a resource for financial intelligence in the media and communications sector. The company is based in Charlottesville, Va.