Until recently, the business of selling sports rights flourished on the assumption that passionate fans simply can’t live without watching their teams on TV. That logic led big media companies to collectively place long-term bets over the past 15 years or so worth over $150 billion on rights to telecast games, according to Guggenheim Securities. That gave rise to a host of sports channels that now account for 35% of the typical monthly cable bill, according to research firm SNL Kagan.
Source: Cost of Sports TV Raises Stakes in Yankees, Comcast Fight – WSJ