Skydance's CBS-NFL Deal Remains Unrenegotiated Amid Industry Changes

Skydance currently maintains the CBS contract with the NFL, which is expected to end after the 2029 season unless an extension is reached. The recent merger of Paramount and Warner Bros. Discovery has raised questions about the future of this deal.

Skydance Chair & CEO David Ellison expressed confidence in continuing the partnership with the NFL, referencing a strong relationship and a record-setting season in 2025. However, negotiations for a new deal have not yet commenced, despite expectations that CBS would increase its annual payment from $2.1 billion to $3 billion before the 2026 season.

Gerry Cardinale of RedBird Capital indicated that a new agreement is anticipated in the coming years, as the NFL's desire for higher payments remains. The NFL's right to renegotiate was triggered by Skydance's acquisition of Paramount/CBS, allowing them to reassess the existing contract by August 2027.