FWONK - ESPN renews Formula One rights beating Amazon Comcast Netflix - report

Formula One Racing (NASDAQ:FWONA) has agreed to renew its broadcast rights deal with ESPN (NYSE:DIS) through 2025, Sports Business Journal reports. That contract's not signed yet, according to the report, but rival bidders Amazon.com (AMZN) and Comcast (CMCSA) have been informed that their bids won't be accepted. And the three-year deal reportedly comes at $75M-$90M per year - a sharp increase from the $5M per year ESPN had in a three-year, $15M deal from 2019 (but apparently below an Amazon.com bid of around $100M per year and a similar bid from Comcast). Netflix (NFLX), which has seen racing success with its Drive to Survive docuseries, put in a bit that wasn't close on the money, SBJ said. That may have come down to streaming rights requested. For Disney's (DIS) part, while most races will be carried on its ABC or ESPN linear channels, ESPN has the flexibility to put a

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ESPN renews Formula One rights, beating Amazon, Comcast, Netflix - report