The National Football League is in active discussions with Paramount Skydance (PSKY), the parent company of CBS, to extend CBS's broadcasting rights for its package of Sunday afternoon NFL games through the 2033-2034 season.
The proposed deal would eliminate the existing opt-out clause after the 2029 season and secure CBS's long-term commitment in exchange for a significant price increase.
Sources cited by CNBC indicate the NFL is pushing for roughly a $1 billion annual hike over the current contract, which would elevate CBS's yearly payments to around $3.1 billion — a roughly 50% increase from the existing average of about $2.1 billion per year for the AFC-focused Sunday package (including select playoffs and participation in the Super Bowl rotation).
Those deals, signed in 2021-2022, run through 2033 but include an opt-out window after 2029 that the league appears eager to waive for higher fees now.
The NFL is reportedly prioritizing a deal with CBS/Paramount first, potentially setting a precedent for similar renegotiations with other partners like Fox. Industry observers note the league's strong leverage, especially after CBS posted record viewership in recent seasons (averaging over 21 million viewers per game in 2025). The push reflects the skyrocketing value of live sports in a fragmented media landscape, where the NFL remains the dominant draw for advertisers and viewers.
If finalized, the new terms could take effect as early as the upcoming season, locking in CBS as a key NFL broadcaster for nearly another decade while boosting the league's already massive media revenue stream. Negotiations are described as ongoing, with no final agreement announced yet.