Benzinga | Feb 22, 2021 07:47AM EST

Disney Opposes NFL's 100% TV Rights Payment Hike: CNBC

* The National Football League's (NFL) 100% price hike from its network league partners has met with opposition from Walt Disney Co (NYSE: DIS). It has rejected the hike citing the high tariff it already pays for Monday Night Football, CNBC reports.

* The NFL is negotiating with four of its existing network partners, including NBC, CBS, Fox Corporation (NASDAQ: FOX), and Disney-owned ESPN, to complete its primary package renewals before the start of the new NFL season.

* NBC, CBS, and Fox have possibly agreed to the hike. Reportedly, Disney pays a higher price than the three broadcast networks for its Monday Night Football package.

* Disney paid a yearly $1.9 billion for Monday Night Football from 2011 through 2021. While Fox, CBS, and NBC paid $1.1 billion, $1 billion, and $960 million, respectively, per annum for Sunday Night Football.

* Disney's decision will be based on the sports viewership trends and their impact on the shareholder value.

* Interestingly Disney is entitled to highlight rights for ESPN, branding rights for shows, and streaming rights.

* Further, Disney has upped its demands for the inclusion of ABC broadcast network as a part of the Super Bowl rotation with NBC, CBS, and Fox; flexibility in streaming rights; and the addition of the 18th week of regular-season play as soon as next season.

* Price action: DIS shares are down 1.41% at $181.06 in the pre-market session on the last check Monday.