Disney CFO Hugh Johnston Indicates No Current Talks with NFL on Rights Renewal, Open to Future Possibilities

Disney is currently not in negotiations with the NFL regarding the renewal of its long-term rights deal, in contrast to some other media partners of the league. This update was provided by CFO Hugh Johnston during the company’s quarterly earnings call on Wednesday.

The NFL, which remains a pivotal asset for media companies and streaming services, is planning to exercise its option to opt out of existing rights agreements before they conclude in the 2033-34 season. The league is reportedly negotiating with Sunday afternoon broadcasting partners Paramount and Fox, aiming to secure an additional $1 billion or more by presenting them an enticing offer.

Disney, however, will not be subject to this opt-out clause until 2031. The company also finds itself in a distinct position in relation to its media and streaming competitors, having recently acquired the NFL Network, RedZone, and other media assets in exchange for a 10% equity stake in ESPN.

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“Our relationship with the NFL is as broad and as deep as it’s ever been,” Johnston noted during the call. He expressed enthusiasm for the upcoming NFL season, highlighting the addition of the NFL Network and RedZone to their distribution portfolio alongside Monday Night Football and extensive NFL coverage.

Despite the positive outlook, Johnston emphasized, “we haven’t yet engaged with the league on early renewal conversations. We’re not dogmatic about the process, and we’re always willing to have a conversation with the NFL in an effort to find new opportunities for growth. We expect to be in the business with the league for years to come and will, of course, evaluate this deal – as we would any deal – with discipline and a focus on driving value for Disney’s shareholders.”

In contrast, executives from other media and tech companies have indicated a different scenario regarding their NFL relations, suggesting that they have already initiated renewal discussions.

Netflix, which has broadcast Christmas Day doubleheaders for the past two seasons, has openly expressed its desire for more NFL games. Co-CEO Ted Sarandos confirmed last month, “We are in discussions right now” with the league, noting, “because we think there’s an opportunity to expand the relationship.”

Disney’s networks and streaming services are set to carry the Super Bowl next February, marking the company’s first involvement with the event since ABC last aired it in 2006.