News: Paramount-WBD, FIFA World Cup, NFL and more

Key Points:

• Paramount is reportedly close to receiving U.S. Department of Justice approval for its $110 billion merger with Warner Bros. Discovery, following a two-hour meeting where DOJ attorneys were persuaded the deal would not harm competition; the merger aims to unlock over $6 billion in cost reductions and is expected to close in Q3.
• Fox Corporation is paying under $500 million, specifically around $485 million, for U.S. broadcast rights to the upcoming FIFA World Cup, a figure considered low compared to expert valuations; Fox previously agreed to broadcast the 2018 and 2022 tournaments and may balance its sports portfolio amid rising NFL rights costs.
• Expansion of the NFL regular season to 18 games is considered "highly unlikely" by 2027, with no official announcement or date set for Super Bowl LXII; any schedule change would require mutual agreement between NFL owners and players and could impact the timing of the championship game.
• The NFL’s media rights negotiations are ongoing, with the league able to exit its Paramount deal by 2027 due to a change-of-control provision triggered by Paramount’s acquisition by Skydance, while maintaining arm’s length relationships despite minority equity stakes in Paramount and ESPN.
• Additional news includes updates on NBC Sports, SEC Network, ESPN, and the Sports Emmy Awards, though specific details were not provided in the report.