Disney (DIS) will pay more than $500M over ten years to broadcast the Grammy Awards, ending the music award show’s over 50-year-run with CBS (PARA), the Wall Street Journal’s Joe Flint reports, citing people familiar with the matter. Under the terms of its new agreement with the Recording Academy, which takes effect in 2027, Disney’s ABC network and its streaming platforms will carry the show simultaneously, the author says, noting that the Academy will also make specials and other new programs for Disney’s platforms.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on DIS:
- Disney wins Grammy broadcasts rights, replacing CBS, Bloomberg says
- Paramount (NASDAQ:PARA) Braces for a New Streaming War
- Disney’s ESPN to launch a game inside Fortnite, The Verge reports
- Box Office Battle: ‘Venon: The Last Dance’ wins weekend with $51M debut
- Disney price target raised to $125 from $120 at Goldman Sachs
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
