Comcast Renews English Premier League US Rights For $2.8B By Outbidding Giants Like Amazon

Comcast Corp CMCSA renewed its U.S. rights to broadcast English Premier League matches starting in 2022, Bloomberg reports. The six-year contract is worth $2.76 billion, New York Post reports.

• Comcast agreed to pay almost three times more in a bet that soccer would continue to gain popularity.
• Other bidders included Fox Corp FOX, Amazon.com Inc AMZN, and The Walt Disney Co's DIS ESPN.
• The NHL's recent deal will see ESPN and Turner paying an aggregate $625 million, while the Premier League will clock in at around $460 million per season.
• While Comcast will air the most significant matches on traditional T.V. networks like NBC and USA, it relies on the EPL to draw millions of customers to its nascent streaming service, Peacock.
• The contract will boost the EPL's total domestic and overseas revenue next season.
• NBC has grown the Premier League from a $60 million per year property a decade ago to a $150 million per in 2015 to now $460 million per year. 
• Related News: Premier League Nears Sale Of US TV Rights For $2B: F.T.
• Price Action: CMCSA shares traded lower by 1.82% at $51.82 on the last check Friday.